Thursday, February 25, 2021

B. Riley FBR lifts Drive Shack Inc. [DS] price estimate. Who else is bullish?

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Drive Shack Inc. [NYSE: DS] loss -1.65% or -0.04 points to close at $2.39 with a heavy trading volume of 5127359 shares. The company report on January 29, 2021 that Drive Shack Inc. Announces Pricing of Public Offering of Common Stock.

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Drive Shack Inc. (NYSE: DS, the “Company”), a leading owner and operator of golf-related leisure and entertainment businesses, announced that it priced its underwritten public offering of 20,833,334 shares of common stock at a price to the public of $2.40 per share for gross proceeds of approximately $50 million. All shares of common stock are being offered by the Company. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 3,124,999 shares of common stock. The offering is expected to close on February 2, 2021, subject to customary closing conditions.

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The Company intends to use the net proceeds from this offering for investments and general corporate purposes, including for working capital and the planned development of five of seven Puttery venues in 2021.

It opened the trading session at $2.50, the shares rose to $2.56 and dropped to $2.38, the range by which the price of stock traded the whole day. The daily chart for DS points out that the company has recorded 42.26% gains over the past six months. However, it is still -177.91% lower than its most recent low trading price.

If we look at the average trading volume of 2.73M shares, DS reached to a volume of 5127359 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Drive Shack Inc. [DS]:

B. Riley FBR have made an estimate for Drive Shack Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on April 21, 2020, representing the official price target for Drive Shack Inc. stock. Previously, the target price had yet another raise to $8, while JMP Securities analysts kept a Mkt Outperform rating on DS stock. On March 18, 2019, analysts increased their price target for DS shares from 5 to 7.

The Average True Range (ATR) for Drive Shack Inc. is set at 0.29, with the Price to Sales ratio for DS stock in the period of the last 12 months amounting to 0.90.

Trading performance analysis for DS stock

Drive Shack Inc. [DS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.89. With this latest performance, DS shares dropped by -0.83% in over the last four-week period, additionally plugging by 42.26% over the last 6 months – not to mention a drop of -33.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DS stock in for the last two-week period is set at 46.57, with the RSI for the last a single of trading hit 42.91, and the three-weeks RSI is set at 49.17 for Drive Shack Inc. [DS]. The present Moving Average for the last 50 days of trading for this stock 2.42, while it was recorded at 2.42 for the last single week of trading, and 1.78 for the last 200 days.

Drive Shack Inc. [DS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Drive Shack Inc. [DS] shares currently have an operating margin of -13.88 and a Gross Margin at +1.89. Drive Shack Inc.’s Net Margin is presently recorded at -20.16.

Return on Total Capital for DS is now -13.92, given the latest momentum, and Return on Invested Capital for the company is -21.35. Return on Equity for this stock declined to -54.79, with Return on Assets sitting at -11.95. When it comes to the capital structure of this company, Drive Shack Inc. [DS] has a Total Debt to Total Equity ratio set at 419.47. Additionally, DS Total Debt to Total Capital is recorded at 80.75, with Total Debt to Total Assets ending up at 53.31. Long-Term Debt to Equity for the company is recorded at 6,312.42, with the Long-Term Debt to Total Capital now at 73.98.

Reflecting on the efficiency of the workforce at the company, Drive Shack Inc. [DS] managed to generate an average of -$11,776 per employee. Receivables Turnover for the company is 29.91 with a Total Asset Turnover recorded at a value of 0.59.Drive Shack Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Drive Shack Inc. [DS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Drive Shack Inc. posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Drive Shack Inc. go to 8.10%.

An analysis of insider ownership at Drive Shack Inc. [DS]

There are presently around $54 million, or 35.80% of DS stock, in the hands of institutional investors. The top three institutional holders of DS stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 5,699,844, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; AMERICAN ASSETS CAPITAL ADVISERS, LLC, holding 4,219,149 shares of the stock with an approximate value of $10.08 million in DS stocks shares; and VANGUARD GROUP INC, currently with $5.64 million in DS stock with ownership of nearly -16.435% of the company’s market capitalization.

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Positions in Drive Shack Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 27 institutional holders increased their position in Drive Shack Inc. [NYSE:DS] by around 1,325,135 shares. Additionally, 40 investors decreased positions by around 5,522,178 shares, while 25 investors held positions by with 15,750,108 shares. The mentioned changes placed institutional holdings at 22,597,421 shares, according to the latest SEC report filing. DS stock had 11 new institutional investments in for a total of 914,198 shares, while 8 institutional investors sold positions of 1,066,152 shares during the same period.

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