| Over a week ago | ||||
Truist analyst Jake… Truist analyst Jake Bartlett raised the firm's price target on Dave & Buster's to $46 from $42 but keeps a Hold rating on the shares. The analyst has greater confidence in the company's pace of sales recovery and margin initiatives, stating that while stimulus checks and calendar shifts make it difficult to gauge the exact trajectory of PLAY's sales recovery, it is clearly "stronger than expected". Bartlett adds however that valuation on Dave & Buster's now appropriately reflects a strong sales recovery from the COVID crisis. | ||||
Virtual Meeting to be… Virtual Meeting to be held on April 21 hosted by Truist. | ||||
Dave & Buster's… Dave & Buster's (PLAY) announced the appointment of Atish Shah to the company's board of directors, effective April 16. Since April 2016, Mr. Shah has served as Executive Vice President, Chief Financial Officer and Treasurer of Xenia Hotels & Resorts (XHR). Brian Jenkins, CEO, said, "Dave & Buster's is emerging from the challenges of the past year as a stronger, more competitive company. Atish's hospitality expertise and business acumen will be invaluable as we work to fortify our leading position in the dining and entertainment industry." | ||||
As previously reported,… As previously reported, William Blair analyst Sharon Zackfia upgraded Dave & Buster's to Outperform from Market Perform after the company announced a year-over-year comparable sales decline of 38% through the first 11 weeks of the first quarter that she notes represents an improvement from the down 47% trend through the first eight weeks of the quarter. The "dramatic recovery in sales trends" reflects both more open locations and improved trends at fully operational locations, said Zackfia, who also thinks its likely that D&B benefited from stimulus checks and increased domestic tourism around spring breaks. The analyst, who now thinks consensus revenue expectations for the rest of 2021 and into 2022 are likely too conservative, is raising her own sales estimates and "materially raising" her 2021 and 2022 EPS estimates to "roughly Street highs," Zackfia noted. | ||||
William Blair analyst… William Blair analyst Sharon Zackfia upgraded Dave & Buster's to Outperform from Market Perform. | ||||
Consensus is for Q1… Consensus is for Q1 revenue $217.27M. In advance of meetings with investors scheduled to take place this week, Dave & Buster's Entertainment provided an update on business trends through April 18 representing the first 11 weeks of its 13 week fiscal Q1. The Company began the Q1 with 107 open stores, or approximately 76% of its total store base. As of April 18, the Company had reopened a total of 138 stores, or approximately 98% of its 141 store base, including 11 New York stores which opened in March and 15 California stores that reopened between mid-March and mid-April. Most locations continue to operate under reduced hours and capacity limitations, including 7 stores that are restricted to food and beverage operations only. As of April 18, through the first eleven weeks of the Q1, overall comparable store sales were (38%) compared to 2019 levels; Sales at fully operational comparable stores achieved 81% of 2019 levels; Quarter-to-date sales totaled approximately $228M with two weeks remaining in the period. Based on these preliminary results and no other unforeseen factors over the remainder of the quarter, the Company now expects Q1 sales to total between approximately $252M-$257M, compared to the Company's prior expectations of $210M-$220M. CEO Brian Jenkins said, "We have been very pleased with our recently reopened stores in New York and California, which have produced some of our strongest early sales recoveries to date. Their performance, in tandem with economic stimulus, expanding vaccines and a favorable Easter and spring break shift, has accelerated sales recovery trends across our entire store base." | |
Dave & Buster's… Dave & Buster's Chairman Stephen King disclosed in a filing that he had sold 15,000 shares of company stock at $44.53 per share on April 8 for a total transaction amount of $667,950. |
| Over a month ago | ||||
Loop Capital analyst… Loop Capital analyst Lynne Collier raised the firm's price target on Dave & Buster's to $50 from $35 and keeps a Hold rating on the shares. While Collier applauds management's execution on profitability, given the significant rebound in the stock in recent weeks, the analyst believes much of the good news is reflected in the current share price, she tells investors in a research note. | ||||
Deutsche Bank analyst… Deutsche Bank analyst Brian Mullan raised the firm's price target on Dave & Buster's to $57 from $41 and keeps a Buy rating on the shares. The analyst believes the "story remains intact" post the Q4 results and sees 19% upside from current share levels. | ||||
Raymond James analyst… Raymond James analyst Brian Vaccaro said he attributes the over 5% pullback in Dave & Buster's shares following the company's Q4 report to disappointment that the company did not announce a definitive sports betting partnership as well as "some confusion" around the company's post-COVID margin recovery dynamics. However, he would remain a buyer amid the pullback, telling investors that he is "very encouraged" by the strength of the recent sales recovery. In addition, Vaccaro believes the company was close to finalizing a partnership arrangement, but "additional opportunities arose which the management wants to fully consider." The analyst, who remains optimistic that a sports betting partnership could be announced in coming quarters, keeps a Strong Buy rating on D&B shares. | ||||