Roth Mkm Trims Bowlero (NYSE:BOWL) Target Price to $15.00

Bowlero (NYSE:BOWL) had its price target decreased by research analysts at Roth Mkm from $17.00 to $15.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 32.86% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Oppenheimer lowered their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a report on Tuesday. Canaccord Genuity Group dropped their price objective on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Stock Performance

Shares of NYSE:BOWL opened at $11.29 on Tuesday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. The firm’s 50 day simple moving average is $12.69 and its 200 day simple moving average is $12.15. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL) last announced its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). The firm 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%. As a group, sell-side analysts forecast that Bowlero will post 0.15 earnings per share for the current 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 value of $1,123,998.96. Following the completion of the sale, the director now owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 56.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bowlero

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

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.