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Canaccord Genuity Reaffirms "Buy" Rating for Dave & Buster's Entertainment, Inc. (PLAY)

January 08,2017 17:15

Canaccord Genuity reiterated their buy rating on shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) in a research note released on Sunday morning. The brokerage currently has a $60.00 target price on the stock. Several other equities research ...and more »



Canaccord Genuity reiterated their buy rating on shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in a research note released on Sunday morning. The brokerage currently has a $60.00 target price on the stock.
Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company initiated coverage on Dave & Buster’s Entertainment in a report on Wednesday, October 12th. They issued an outperform rating and a $47.50 price target for the company. TheStreet raised Dave & Buster’s Entertainment from a hold rating to a buy rating in a report on Monday, October 10th. BMO Capital Markets restated an outperform rating on shares of Dave & Buster’s Entertainment in a research note on Sunday, October 2nd. SunTrust Banks, Inc. assumed coverage on Dave & Buster’s Entertainment in a research note on Tuesday, December 20th. They issued a buy rating and a $68.00 price objective for the company. Finally, Jefferies Group restated a buy rating on shares of Dave & Buster’s Entertainment in a research note on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Dave & Buster’s Entertainment currently has an average rating of Buy and a consensus price target of $53.17.
Shares of Dave & Buster’s Entertainment (NASDAQ:PLAY) opened at 56.21 on Friday. The stock’s 50 day moving average is $52.99 and its 200 day moving average is $45.73. Dave & Buster’s Entertainment has a 52-week low of $29.54 and a 52-week high of $58.25. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 28.13 and a beta of 0.75.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, December 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.11. The business earned $228.70 million during the quarter, compared to the consensus estimate of $216.74 million. Dave & Buster’s Entertainment had a return on equity of 22.15% and a net margin of 8.91%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. On average, equities analysts predict that Dave & Buster’s Entertainment will post $2.05 EPS for the current fiscal year.
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In other news, SVP Jay L. Tobin sold 2,500 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $45.01, for a total value of $112,525.00. Following the sale, the senior vice president now directly owns 104,571 shares of the company’s stock, valued at $4,706,740.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jay L. Tobin sold 7,500 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $39.92, for a total value of $299,400.00. Following the completion of the sale, the senior vice president now directly owns 109,571 shares in the company, valued at $4,374,074.32. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. RS Investment Management Co. LLC raised its stake in shares of Dave & Buster’s Entertainment by 3.3% in the second quarter. RS Investment Management Co. LLC now owns 599,832 shares of the company’s stock worth $28,066,000 after buying an additional 19,220 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Dave & Buster’s Entertainment during the second quarter worth about $414,000. Victory Capital Management Inc. raised its stake in shares of Dave & Buster’s Entertainment by 18,294.2% in the third quarter. Victory Capital Management Inc. now owns 646,005 shares of the company’s stock worth $25,310,000 after buying an additional 642,493 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Dave & Buster’s Entertainment by 12.0% in the third quarter. State of Tennessee Treasury Department now owns 112,034 shares of the company’s stock worth $4,389,000 after buying an additional 12,034 shares in the last quarter. Finally, Sanders Morris Harris Inc. purchased a new stake in shares of Dave & Buster’s Entertainment during the second quarter worth about $281,000.

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