Craig Hallum Increases Bowlero (NYSE:BOWL) Price Target to $18.00

Bowlero (NYSE:BOWL) had its target price upped by investment analysts at Craig Hallum from $17.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 59.43% from the company’s previous close.

Several other analysts also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday. Oppenheimer reduced their target price on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. CJS Securities reissued a “market perform” rating on shares of Bowlero in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Roth Mkm cut their price target on Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Stock Performance

Shares of BOWL opened at $11.29 on Tuesday. The company has a 50-day moving average of $12.69 and a two-hundred day moving average of $12.15. The stock has a market cap of $1.69 billion, a P/E 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 current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80.

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

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 56.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bowlero

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in Bowlero in the 3rd quarter valued at about $51,000. Parkside Financial Bank & Trust lifted its stake in shares of Bowlero by 35.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after acquiring an additional 1,286 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bowlero by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock valued at $93,000 after purchasing an additional 1,842 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Bowlero by 2,940.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock valued at $93,000 after purchasing an additional 6,352 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings 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 purchasing an additional 2,046 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

About Bowlero

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.