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

Bowlero (NYSE:BOWL) had its price objective lowered by equities researchers at Stifel Nicolaus from $19.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 50.58% from the stock’s previous close.

BOWL has been the topic of several other research reports. Oppenheimer dropped their price objective on Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on 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 boosted their price objective on Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Bowlero presently has an average 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 company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The stock has a market capitalization of $1.69 billion, a P/E ratio of 62.72 and a beta of 0.57. The business has a 50-day moving average price of $12.69 and a two-hundred day moving average price of $12.15.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Bowlero will post 0.15 earnings per share for the current year.

Insider Transactions at Bowlero

In other news, Director Michelle D. Wilson sold 87,267 shares of Bowlero 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 sale, the director now directly owns 1,040,204 shares of the company’s stock, valued at $13,397,827.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 56.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cadian Capital Management LP bought a new position in shares of Bowlero in the 3rd quarter worth about $4,810,000. Vanguard Group Inc. grew its stake in Bowlero by 4.8% during the third quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock worth $40,685,000 after purchasing an additional 193,801 shares during the period. Kennedy Capital Management LLC increased its holdings in Bowlero by 283.8% in the third quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock worth $4,638,000 after purchasing an additional 356,485 shares in the last quarter. Primecap Management Co. CA acquired a new position in Bowlero in the third quarter valued at approximately $3,145,000. Finally, Private Management Group Inc. acquired a new position in Bowlero in the third quarter valued at approximately $12,217,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.