Dave & Buster’s Entertainment, Inc. (PLAY) Rating Reiterated by Jefferies Group LLC

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a report released on Friday. They presently have a $80.00 price objective on the restaurant operator’s stock. Jefferies Group LLC’s price target indicates a potential upside of 20.83% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, March 23rd. Nomura initiated coverage on shares of Dave & Buster’s Entertainment in a report on Wednesday, March 22nd. They issued a “buy” rating on the stock. Piper Jaffray Companies raised their price target on shares of Dave & Buster’s Entertainment from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, March 24th. SunTrust Banks, Inc. set a $69.00 price target on shares of Dave & Buster’s Entertainment and gave the company a “buy” rating in a report on Thursday, April 13th. Finally, Canaccord Genuity restated a “buy” rating and issued a $67.00 price target on shares of Dave & Buster’s Entertainment in a report on Thursday, March 30th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $73.78.

Dave & Buster’s Entertainment (NASDAQ:PLAY) opened at 66.21 on Friday. The stock has a 50 day moving average of $67.58 and a 200 day moving average of $60.69. Dave & Buster’s Entertainment has a 52 week low of $37.60 and a 52 week high of $73.48. The company has a market cap of $2.75 billion, a P/E ratio of 28.02 and a beta of 0.69.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings results on Thursday, June 8th. The restaurant operator reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.17. Dave & Buster’s Entertainment had a net margin of 9.78% and a return on equity of 22.71%. The business had revenue of $304.15 million for the quarter, compared to analysts’ expectations of $299.77 million. During the same period last year, the business earned $0.72 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. On average, analysts expect that Dave & Buster’s Entertainment will post $2.61 earnings per share for the current year.

Dave & Buster’s Entertainment announced that its board has approved a share repurchase program on Tuesday, June 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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In related news, SVP Jay L. Tobin sold 19,186 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $71.70, for a total value of $1,375,636.20. Following the completion of the sale, the senior vice president now directly owns 56,071 shares in the company, valued at approximately $4,020,290.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Jenkins sold 22,500 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $66.53, for a total transaction of $1,496,925.00. Following the completion of the sale, the chief financial officer now owns 1 shares of the company’s stock, valued at $66.53. The disclosure for this sale can be found here. Insiders sold a total of 145,686 shares of company stock valued at $10,160,951 over the last quarter. 5.60% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PLAY. Fox Run Management L.L.C. bought a new stake in Dave & Buster’s Entertainment during the first quarter worth approximately $272,000. First National Bank of Omaha boosted its stake in Dave & Buster’s Entertainment by 30.1% in the first quarter. First National Bank of Omaha now owns 22,675 shares of the restaurant operator’s stock worth $1,385,000 after buying an additional 5,240 shares during the period. Bank of Montreal Can boosted its stake in Dave & Buster’s Entertainment by 224.9% in the first quarter. Bank of Montreal Can now owns 24,305 shares of the restaurant operator’s stock worth $1,484,000 after buying an additional 16,825 shares during the period. Copper Rock Capital Partners LLC bought a new stake in Dave & Buster’s Entertainment during the first quarter worth approximately $28,901,000. Finally, Macquarie Group Ltd. boosted its stake in Dave & Buster’s Entertainment by 21.1% in the fourth quarter. Macquarie Group Ltd. now owns 107,571 shares of the restaurant operator’s stock worth $6,056,000 after buying an additional 18,716 shares during the period.

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

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