Bowlero (NYSE:BOWL) PT Lowered to $18.00 at Canaccord Genuity Group

Bowlero (NYSE:BOWL) had its price objective reduced by equities researchers at Canaccord Genuity Group from $20.00 to $18.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 59.43% from the stock’s previous close.

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

Bowlero Trading Up 0.2 %

Shares of Bowlero stock opened at $11.29 on Tuesday. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47. The stock has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $12.15. The stock has a market capitalization of $1.69 billion, a PE ratio of 62.72 and a beta of 0.57.

Bowlero (NYSE:BOWL) last posted its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). The business had revenue of $305.67 million during 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, equities analysts anticipate that Bowlero will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total value of $1,123,998.96. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 56.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bowlero

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new position in Bowlero during the third quarter valued at $51,000. Parkside Financial Bank & Trust raised 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 buying an additional 1,286 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 1,842 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of 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 acquiring an additional 6,352 shares during the period. 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 acquiring an additional 2,046 shares in the last quarter. Hedge funds and other institutional investors 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.