Bowlero (NYSE:BOWL) Price Target Cut to $18.00

Bowlero (NYSE:BOWL) had its price objective lowered by stock analysts at Canaccord Genuity Group from $20.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 59.43% from the company’s current price.

BOWL has been the subject of several other reports. Oppenheimer decreased their target price on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. CJS Securities restated a “market perform” rating on shares of Bowlero in a research note on Tuesday. Roth Mkm boosted their price target on Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Stifel Nicolaus lowered their price objective on Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Bowlero Stock Performance

Shares of NYSE:BOWL opened at $11.29 on Tuesday. The firm has a market capitalization of $1.69 billion, a PE ratio of 62.72 and a beta of 0.57. Bowlero has a 12 month low of $8.85 and a 12 month high of $15.47. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. The business has a 50-day moving average of $12.69 and a two-hundred day moving average of $12.15.

Bowlero (NYSE:BOWL) last posted its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). The business had revenue of $305.67 million for the quarter, compared to analyst estimates of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. As a group, research analysts forecast that Bowlero will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the transaction, the director now directly owns 1,040,204 shares of the company’s stock, valued at $13,397,827.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 56.54% of the company’s stock.

Institutional Investors Weigh In On Bowlero

Several large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its holdings in Bowlero by 35.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock valued at $69,000 after purchasing an additional 1,286 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bowlero by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after buying an additional 1,842 shares during the period. Bleakley Financial Group LLC grew its stake in Bowlero by 7.6% in the 4th quarter. Bleakley Financial Group LLC now owns 26,890 shares of the company’s stock valued at $381,000 after buying an additional 1,890 shares during the last quarter. Simplicity Solutions LLC raised its holdings in Bowlero by 7.6% in the 4th quarter. Simplicity Solutions LLC now owns 26,890 shares of the company’s stock worth $381,000 after acquiring an additional 1,890 shares during the period. Finally, Arizona State Retirement System lifted its position in Bowlero by 19.0% during the 3rd quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after acquiring an additional 2,046 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Bowlero Company Profile

Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. It operates bowling centers in the United States, Mexico, and Canada.