William Blair Starts Pinstripes Holdings Inc (PNST) at Outperform

William Blair analyst Sharon Zackfia initiates coverage on Pinstripes Holdings Inc (NYSE: PNST) with a Outperform rating.

The analyst comments "Upscale Dining and Entertainment Concept With Diversified Sales Mix. Founded by CEO Dale Schwartz in suburban Chicago in 2007, Pinstripes operates 16 large, high-volume locations across 10 states and Washington, D.C., featuring chef-driven Italian American fare combined with entertainment offerings such as bowling, bocce, and flexible event spaces. The concept’s broad consumer appeal is illustrated by healthy average unit volumes (AUVs) of $8.6 million in fiscal 2023, with 47% of sales from private events, of which nearly two-thirds are corporate. With high-margin games comprising 21% of sales, Pinstripes generates an above-average 54% of sales from the combined happy hour and late-night dayparts."

For an analyst ratings summary and ratings history on Pinstripes Holdings Inc click here. For more ratings news on Pinstripes Holdings Inc click here.

Shares of Pinstripes Holdings Inc closed at $3.11 yesterday.

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