Brokerages Set $7.00 Price Target for Drive Shack Inc (NYSE:DS)

Drive Shack Inc (NYSE:DS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price objective of $7.00 for the company and are predicting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also given Drive Shack an industry rank of 216 out of 255 based on the ratings given to its competitors.

A number of research firms recently issued reports on DS. Zacks Investment Research downgraded Drive Shack from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. ValuEngine upgraded Drive Shack from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st.

NYSE:DS opened at $3.91 on Wednesday. The stock’s 50 day moving average price is $4.40 and its 200 day moving average price is $4.75. The company has a market capitalization of $268.13 million, a PE ratio of -9.09 and a beta of 1.33. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 7.59. Drive Shack has a 52-week low of $3.55 and a 52-week high of $6.62.

Drive Shack (NYSE:DS) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.15). The firm had revenue of $71.62 million for the quarter, compared to analysts’ expectations of $56.40 million. Drive Shack had a negative return on equity of 62.92% and a negative net margin of 15.99%. As a group, sell-side analysts anticipate that Drive Shack will post -0.5 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the business. Eaton Vance Management purchased a new position in shares of Drive Shack in the 2nd quarter valued at approximately $392,000. Vanguard Group Inc. grew its stake in shares of Drive Shack by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,000,037 shares of the real estate investment trust’s stock valued at $14,070,000 after purchasing an additional 50,615 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Drive Shack by 18.5% in the 2nd quarter. BlackRock Inc. now owns 3,830,501 shares of the real estate investment trust’s stock valued at $17,967,000 after buying an additional 598,603 shares during the period. Northern Trust Corp lifted its holdings in shares of Drive Shack by 1.6% in the 2nd quarter. Northern Trust Corp now owns 788,328 shares of the real estate investment trust’s stock valued at $3,697,000 after buying an additional 12,170 shares during the period. Finally, Angeles Investment Advisors LLC acquired a new stake in shares of Drive Shack in the 2nd quarter valued at approximately $94,000. Institutional investors own 58.78% of the company’s stock.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida. This segment also focuses on opening a chain of dining and entertainment golf venues in the United States and internationally, which combine golf, competition, dining, and fun.

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