Bowlero (NYSE:BOWL) Price Target Cut to $16.00

Bowlero (NYSE:BOWL) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 28.10% from the company’s previous close.

A number of other research analysts have also commented on the company. Oppenheimer upped their price objective on Bowlero from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Roth Mkm increased their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus cut their target price on Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.00.

Bowlero Stock Up 2.7 %

Shares of BOWL stock opened at $12.49 on Friday. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 69.39 and a beta of 0.57. The firm’s 50-day moving average is $12.74 and its 200-day moving average is $12.13.

Bowlero (NYSE:BOWL) last announced its quarterly earnings results 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 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%. Sell-side analysts predict that Bowlero will post 0.15 EPS for the current year.

Insider Activity

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the 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 completion of 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 through the SEC website. 56.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Bowlero

A number of institutional investors and hedge funds have recently bought and sold shares of BOWL. PNC Financial Services Group Inc. acquired a new stake in shares of Bowlero in the third quarter valued at about $51,000. Parkside Financial Bank & Trust increased its position in Bowlero by 35.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock valued at $69,000 after purchasing an additional 1,286 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Bowlero by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after purchasing an additional 1,842 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Bowlero by 2,940.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after purchasing an additional 6,352 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Bowlero by 19.0% in the 3rd quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock valued at $123,000 after purchasing an additional 2,046 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.