Truist Financial Issues Pessimistic Forecast for Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its target price dropped by equities research analysts at Truist Financial from $36.00 to $27.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target suggests a potential upside of 12.17% from the stock’s previous close.

Other research analysts also recently issued reports about the company. BMO Capital Markets cut their target price on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Loop Capital dropped their price target on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Gordon Haskett reaffirmed a “hold” rating and set a $34.00 price objective (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Benchmark initiated coverage on shares of Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating on the stock. Finally, William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dave & Buster’s Entertainment presently has an average rating of “Hold” and a consensus price target of $52.25.

Dave & Buster’s Entertainment Price Performance

PLAY stock opened at $24.07 on Thursday. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The firm has a market cap of $926.70 million, a price-to-earnings ratio of 11.92 and a beta of 2.17. The company’s fifty day simple moving average is $32.19 and its 200 day simple moving average is $33.82. Dave & Buster’s Entertainment has a 12-month low of $22.83 and a 12-month high of $69.82.

Insider Activity at Dave & Buster’s Entertainment

In other news, CEO Kevin M. Sheehan bought 37,735 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $25.48 per share, for a total transaction of $961,487.80. Following the completion of the acquisition, the chief executive officer now directly owns 139,011 shares in the company, valued at approximately $3,542,000.28. This trade represents a 37.26 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLAY. Kimelman & Baird LLC purchased a new position in Dave & Buster’s Entertainment in the second quarter worth $28,000. Quarry LP purchased a new position in shares of Dave & Buster’s Entertainment in the 3rd quarter worth about $47,000. Point72 Hong Kong Ltd bought a new position in Dave & Buster’s Entertainment during the third quarter valued at about $121,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Dave & Buster’s Entertainment during the third quarter valued at about $144,000. Finally, Quantbot Technologies LP bought a new stake in Dave & Buster’s Entertainment in the third quarter worth about $196,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

About Dave & Buster’s Entertainment

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees 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.