Dave & Buster’s (PLAY) Raised to “Hold” at Zacks Investment Research

Dave & Buster’s (NASDAQ:PLAY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Dave & Buster's posted fourth-quarter fiscal 2017 results, wherein the bottom line surpassed the Zacks Consensus Estimate while the top line met the same. However, revenues increased 12.9% year over year while earnings fell 3.2%. Decrease in margin due to high operating costs might have led earnings to fall. Moreover, fourth-quarter comps declined 5.9% comparing unfavorably with 3.2% increase in the year-ago quarter. Fiscal fourth quarter operating margin declined roughly 260 basis points (bps) year over year and EBITDA margin decreased approximately 60 bps year over year. Moreover, Dave & Buster's shares have underperformed its industry in the past year. Also, rising labor costs and a non-franchised business model might have hurt profits. However, persistent focus on unit expansion along with various sales-boosting initiatives will drive the top line. Further, we expect the company’s entertainment business to driving growth.”

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Several other analysts have also recently issued reports on the stock. Maxim Group lowered their price objective on shares of Dave & Buster’s from $74.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets decreased their price target on shares of Dave & Buster’s from $60.00 to $49.00 and set an “outperform” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. SunTrust Banks set a $54.00 price target on shares of Dave & Buster’s and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine cut shares of Dave & Buster’s from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $60.00 price target (down from $70.00) on shares of Dave & Buster’s in a research report on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $61.10.

Shares of NASDAQ PLAY traded up $0.46 during trading on Friday, hitting $42.02. 160,581 shares of the company traded hands, compared to its average volume of 1,539,822. Dave & Buster’s has a 1 year low of $37.85 and a 1 year high of $73.48. The stock has a market capitalization of $1,610.46, a PE ratio of 16.16, a P/E/G ratio of 1.04 and a beta of 0.44. The company has a quick ratio of 0.26, a current ratio of 0.46 and a debt-to-equity ratio of 0.83.

Dave & Buster’s (NASDAQ:PLAY) last announced its quarterly earnings data on Tuesday, April 3rd. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Dave & Buster’s had a net margin of 10.61% and a return on equity of 24.67%. The company had revenue of $304.90 million during the quarter, compared to analysts’ expectations of $304.82 million. During the same period in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. equities research analysts expect that Dave & Buster’s will post 2.64 EPS for the current fiscal year.

In related news, SVP J Michael Plunkett sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $46.60, for a total transaction of $93,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin M. Sheehan acquired 10,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was purchased at an average cost of $45.58 per share, with a total value of $455,800.00. Following the completion of the transaction, the director now owns 60,138 shares in the company, valued at $2,741,090.04. The disclosure for this purchase can be found here. 3.84% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Dave & Buster’s by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,690 shares of the restaurant operator’s stock valued at $774,000 after buying an additional 1,053 shares during the last quarter. Piedmont Investment Advisors LLC boosted its position in Dave & Buster’s by 13.2% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 9,163 shares of the restaurant operator’s stock valued at $481,000 after buying an additional 1,068 shares during the last quarter. Flinton Capital Management LLC boosted its position in Dave & Buster’s by 20.8% in the 4th quarter. Flinton Capital Management LLC now owns 6,902 shares of the restaurant operator’s stock valued at $381,000 after buying an additional 1,190 shares during the last quarter. California Public Employees Retirement System boosted its position in Dave & Buster’s by 6.3% in the 3rd quarter. California Public Employees Retirement System now owns 20,400 shares of the restaurant operator’s stock valued at $1,071,000 after buying an additional 1,200 shares during the last quarter. Finally, Renaissance Group LLC boosted its position in Dave & Buster’s by 27.3% in the 4th quarter. Renaissance Group LLC now owns 7,401 shares of the restaurant operator’s stock valued at $408,000 after buying an additional 1,589 shares during the last quarter.

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About Dave & Buster’s

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of ?Fun American New Gourmet' entrées and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.

Analyst Recommendations for Dave & Buster`s (NASDAQ:PLAY)

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