Maxim Group analyst Stephen Anderson maintained a Buy rating on Dave & Busters Entertainment (NASDAQ: PLAY) today and set a price target of $71. The company’s shares closed on Friday at $62.05, close to its 52-week high of $62.86.
Anderson noted:
“We maintain our Buy rating on Dave & Buster’s (PLAY) and raise our price target to $71, from $68, following better-than-expected F2Q18 (July) results. We raise our FY18 EPS estimate to $2.95, from $2.82, primarily to account for the F2Q18 EPS beat. We also increase our FY19 EPS estimate to $3.55, from $3.41, and our FY20 EPS estimate to $4.20, from $4.08, given our outlook for higher Amusement revenue and renewed Food & Beverage sales growth. PLAY remains one of our top picks in the restaurant industry, and we still model upside in the share price after Friday’s post-earnings rally.”
According to TipRanks.com, Anderson is a top 100 analyst with an average return of 15.7% and a 75.2% success rate. Anderson covers the Services sector, focusing on stocks such as Good Times Restaurants Inc, Dine Brands Global Inc, and Brinker International.
Currently, the analyst consensus on Dave & Busters Entertainment is a Strong Buy with an average price target of $65, implying a 4.8% upside from current levels. In a report issued on September 11, Canaccord Genuity also reiterated a Buy rating on the stock with a $65 price target.
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The company has a one-year high of $62.86 and a one-year low of $37.85. Currently, Dave & Busters Entertainment has an average volume of 901.6K.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PLAY in relation to earlier this year.
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Dave & Buster’s Entertainment, Inc. is an owner and operator of entertainment and dining venues under the name Dave & Buster’s. Its concept is to offer its customers the opportunity to Eat Drink Play all in one location, through a full menu of casual dining food items and a full selection of non-alcoholic and alcoholic beverage items together with an extensive assortment of entertainment attractions, including skill and sports-oriented redemption games, video games, interactive simulators and other traditional games. The company was founded by David O. Corriveau and James W. Corley in 1982 and is headquartered in Dallas, TX.
