Dave & Buster's Entertainment (NASDAQ:PLAY) Reaches New 1-Year Low on Analyst Downgrade

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) hit a new 52-week low during trading on Thursday after Piper Sandler lowered their price target on the stock from $33.00 to $22.00. Piper Sandler currently has a neutral rating on the stock. Dave & Buster's Entertainment traded as low as $16.85 and last traded at $17.10, with a volume of 271578 shares changing hands. The stock had previously closed at $18.49.

Several other analysts have also recently issued reports on PLAY. BMO Capital Markets dropped their target price on Dave & Buster's Entertainment from $51.00 to $47.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. William Blair reissued a "market perform" rating on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. Loop Capital cut their price objective on shares of Dave & Buster's Entertainment from $59.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Truist Financial decreased their target price on shares of Dave & Buster's Entertainment from $27.00 to $21.00 and set a "hold" rating on the stock in a report on Wednesday, April 2nd. Finally, Gordon Haskett restated a "hold" rating and set a $34.00 price target (down previously from $40.00) on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $37.50.

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Hedge Funds Weigh In On Dave & Buster's Entertainment

Several large investors have recently made changes to their positions in PLAY. SBI Securities Co. Ltd. acquired a new position in Dave & Buster's Entertainment during the fourth quarter worth $47,000. Quarry LP purchased a new stake in shares of Dave & Buster's Entertainment in the 3rd quarter valued at $47,000. KBC Group NV raised its holdings in shares of Dave & Buster's Entertainment by 81.3% in the 4th quarter. KBC Group NV now owns 1,974 shares of the restaurant operator's stock valued at $58,000 after buying an additional 885 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Dave & Buster's Entertainment during the 4th quarter worth about $175,000. Finally, Aristides Capital LLC purchased a new position in Dave & Buster's Entertainment during the 4th quarter valued at about $207,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster's Entertainment Stock Performance

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29. The company has a market capitalization of $605.58 million, a price-to-earnings ratio of 7.72 and a beta of 1.86. The firm has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $29.15.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its quarterly earnings data on Monday, April 7th. The restaurant operator reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $534.50 million during the quarter, compared to analysts' expectations of $548.77 million. Dave & Buster's Entertainment had a net margin of 3.88% and a return on equity of 44.22%. The business's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts anticipate that Dave & Buster's Entertainment Inc will post 2.52 EPS for the current fiscal year.

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.