Bowlero (NYSE:BOWL) PT Raised to $18.00 at Craig Hallum

Bowlero (NYSE:BOWL) had its price objective upped by investment analysts at Craig Hallum from $17.00 to $18.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 59.43% from the stock’s current price.

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

Bowlero Stock Up 0.2 %

NYSE:BOWL opened at $11.29 on Tuesday. The business’s fifty day moving average price is $12.69 and its 200 day moving average price is $12.15. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. 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.

Bowlero (NYSE:BOWL) last issued 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 net margin of 6.33% and a return on equity of 98.75%. On average, sell-side analysts forecast that Bowlero will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling 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 value of $1,123,998.96. Following the transaction, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 56.54% of the company’s stock.

Institutional Investors Weigh In On Bowlero

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in Bowlero during the 3rd quarter valued at $51,000. Parkside Financial Bank & Trust increased its holdings in shares of Bowlero by 35.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after purchasing an additional 1,286 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bowlero by 23.5% during the third 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 during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bowlero by 2,940.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock valued at $93,000 after buying an additional 6,352 shares during the period. Finally, Arizona State Retirement System grew its position in Bowlero by 19.0% during the third quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after buying an additional 2,046 shares in the last quarter. 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.