Bowlero (NYSE:BOWL) Price Target Cut to $17.00

Bowlero (NYSE:BOWL) had its price objective dropped by equities research analysts at Stifel Nicolaus from $19.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 51.85% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Roth Mkm increased their price target on Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. reduced their target price on Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Oppenheimer dropped their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $17.17.

Bowlero Price Performance

NYSE:BOWL opened at $11.20 on Tuesday. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. The firm’s 50-day simple moving average is $12.74 and its 200 day simple moving average is $12.15. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 62.19 and a beta of 0.57.

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

Insider Activity

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 completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new stake in shares of Bowlero during the third quarter worth $51,000. Parkside Financial Bank & Trust lifted its stake in shares of Bowlero by 35.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock valued at $69,000 after acquiring 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 valued at $93,000 after acquiring an additional 1,842 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 worth $93,000 after acquiring an additional 6,352 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Bowlero by 19.0% in 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 in the last quarter. 68.11% of the stock is currently 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.