Oppenheimer Cuts Bowlero (NYSE:BOWL) Price Target to $15.00

Bowlero (NYSE:BOWL) had its price target dropped by analysts at Oppenheimer from $18.00 to $15.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 32.86% from the company’s previous close.

Several other research analysts have also recently commented on the company. Stifel Nicolaus reduced their price target on Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Roth Mkm raised their target price on shares of Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bowlero currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Stock Performance

Shares of BOWL stock opened at $11.29 on Tuesday. The firm has a market cap of $1.69 billion, a PE ratio of 62.72 and a beta of 0.57. Bowlero has a 12 month low of $8.85 and a 12 month high of $15.47. The company’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $12.15. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80.

Bowlero (NYSE:BOWL) last posted 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 business 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 research analysts expect that Bowlero will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 56.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently modified their holdings of BOWL. Raymond James & Associates acquired a new stake in Bowlero in the 3rd quarter worth about $164,000. Bank of New York Mellon Corp increased its stake in Bowlero by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,436 shares of the company’s stock worth $1,168,000 after acquiring an additional 6,835 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 acquiring an additional 1,842 shares during the period. Whittier Trust Co. increased its position in shares of Bowlero by 4.4% in the third quarter. Whittier Trust Co. now owns 358,257 shares of the company’s stock worth $3,446,000 after purchasing an additional 15,096 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Bowlero by 2.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 190,160 shares of the company’s stock valued at $1,829,000 after purchasing an additional 4,751 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.