Bowlero (NYSE:BOWL) PT Raised to $18.00

Bowlero (NYSE:BOWL) had its target price increased by investment analysts at Craig Hallum from $17.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 62.02% from the company’s current price.

BOWL has been the subject of a number of other research reports. Canaccord Genuity Group reduced their price objective on Bowlero from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. Oppenheimer reduced their price objective on Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday. B. Riley 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. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Bowlero Price Performance

Shares of BOWL traded down $0.09 during midday trading on Tuesday, reaching $11.11. The stock had a trading volume of 1,766,081 shares, compared to its average volume of 1,080,468. The company’s 50-day moving average is $12.72 and its 200 day moving average is $12.15. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 62.56 and a beta of 0.57.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. On average, equities analysts predict that Bowlero will post 0.15 EPS for the current fiscal year.

Insider Transactions at Bowlero

In related news, Director Michelle D. Wilson sold 87,267 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 56.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new position in shares of Bowlero during the 3rd quarter valued at approximately $51,000. Parkside Financial Bank & Trust increased its position 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 valued at $69,000 after purchasing an additional 1,286 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 purchasing an additional 1,842 shares during the last quarter. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 6,352 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Bowlero by 19.0% during 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 owned by hedge funds and other institutional investors.

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.