Zacks: Drive Shack Inc (DS) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of Drive Shack Inc (NYSE:DS) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation. Drive Shack’s rating score has improved by 66.7% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokers have set a one year consensus price objective of $7.00 for the company and are anticipating that the company will post ($0.06) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Drive Shack an industry rank of 149 out of 256 based on the ratings given to its competitors.

Several brokerages have issued reports on DS. ValuEngine lowered Drive Shack from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research raised Drive Shack from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Wednesday, March 20th. Finally, Imperial Capital raised Drive Shack from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $5.00 to $7.00 in a research note on Monday, March 18th.

NYSE DS traded down $0.15 during mid-day trading on Thursday, hitting $4.85. The company’s stock had a trading volume of 221,030 shares, compared to its average volume of 307,948. Drive Shack has a twelve month low of $3.55 and a twelve month high of $8.06. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.94 and a quick ratio of 3.66.

Drive Shack (NYSE:DS) last posted its quarterly earnings data on Friday, May 10th. The real estate investment trust reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.02). The firm had revenue of $53.95 million for the quarter, compared to analysts’ expectations of $55.13 million. Drive Shack had a negative return on equity of 39.60% and a negative net margin of 12.26%. On average, equities analysts expect that Drive Shack will post -0.28 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Drive Shack in the first quarter worth about $50,000. Levin Capital Strategies L.P. purchased a new position in Drive Shack in the fourth quarter worth about $59,000. Metropolitan Life Insurance Co. NY boosted its position in Drive Shack by 261.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,939 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 12,254 shares during the last quarter. US Bancorp DE purchased a new position in Drive Shack in the first quarter worth about $117,000. Finally, The Manufacturers Life Insurance Company boosted its position in Drive Shack by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 43,633 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 3,512 shares during the last quarter. 58.32% of the stock is owned by institutional investors and hedge funds.

About Drive Shack

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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