Bowlero (NYSE:BOWL) Price Target Cut to $19.00

Bowlero (NYSE:BOWL) had its price objective reduced by equities researchers at Stifel Nicolaus from $21.00 to $19.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 64.08% from the stock’s current price.

Several other brokerages have also weighed in on BOWL. Oppenheimer increased their price objective on shares of Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Roth Mkm upped their price target on shares of Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bowlero has an average rating of “Buy” and a consensus target price of $18.00.

Bowlero Stock Performance

NYSE BOWL traded down $0.11 on Tuesday, hitting $11.58. 605,565 shares of the company’s stock were exchanged, compared to its average volume of 1,052,745. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The firm’s 50-day moving average price is $12.97 and its two-hundred day moving average price is $12.10. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 64.39 and a beta of 0.50.

Bowlero (NYSE:BOWL) last announced its quarterly earnings results 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). Bowlero had a net margin of 6.33% and a return on equity of 98.75%. The business had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $300.46 million. On average, research analysts expect that Bowlero will post 0.17 EPS for the current year.

Insider Transactions at Bowlero

In other news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction dated 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 owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 56.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bowlero

Several hedge funds and other institutional investors have recently made changes to their positions in BOWL. Bfsg LLC bought a new stake in shares of Bowlero during the third quarter worth $114,000. Raymond James & Associates bought a new stake in shares of Bowlero in the 3rd quarter valued at about $164,000. Bank of New York Mellon Corp lifted its position in shares of Bowlero by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 121,436 shares of the company’s stock valued at $1,168,000 after buying an additional 6,835 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bowlero by 23.5% during the 3rd 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. Finally, Taylor Frigon Capital Management LLC raised its holdings in Bowlero by 36.5% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 284,629 shares of the company’s stock valued at $2,738,000 after acquiring an additional 76,054 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.