Lucky Strike Entertainment (NYSE:LUCK) Price Target Lowered to $9.00 at Truist Financial

Key Points

• Truist Financial cut its price target on Lucky Strike Entertainment from $10 to $9 but kept a buy rating, implying about 25.7% upside from the prior close.
• The stock has drawn mixed Wall Street views overall, with a current consensus rating of Hold and an average price target of $8.72 after several recent downgrades and one upgrade.
• LUCK shares were down 3.4% to $7.16 on Monday, while the company also reported weaker-than-expected Q1 results, missing both earnings and revenue estimates.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) had its target price cut by equities researchers at Truist Financial from $10.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 25.70% from the stock's previous close.

LUCK has been the topic of several other reports. JPMorgan Chase & Co. downgraded shares of Lucky Strike Entertainment from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $8.00 to $6.00 in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lucky Strike Entertainment in a research note on Monday, May 4th. Wall Street Zen upgraded Lucky Strike Entertainment from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 20th. Craig Hallum downgraded shares of Lucky Strike Entertainment from a "buy" rating to a "hold" rating and set a $6.50 price target on the stock. in a research note on Thursday, May 7th. Finally, Citigroup initiated coverage on Lucky Strike Entertainment in a research report on Monday, June 29th. They set a "market perform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.72.

Lucky Strike Entertainment Trading Down 3.4%

Shares of LUCK stock traded down $0.25 on Monday, reaching $7.16. The company had a trading volume of 24,715 shares, compared to its average volume of 148,547. Lucky Strike Entertainment has a 12 month low of $5.70 and a 12 month high of $11.61. The stock has a market cap of $978.20 million, a PE ratio of -11.54 and a beta of 0.61. The company has a 50-day moving average of $7.98 and a 200-day moving average of $8.16.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.07). The firm had revenue of $342.23 million for the quarter, compared to the consensus estimate of $353.77 million. Sell-side analysts anticipate that Lucky Strike Entertainment will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Lucky Strike Entertainment

A number of hedge funds have recently modified their holdings of LUCK. Rice Hall James & Associates LLC increased its position in shares of Lucky Strike Entertainment by 38.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company's stock valued at $2,669,000 after buying an additional 87,656 shares during the period. Maven Securities LTD bought a new stake in Lucky Strike Entertainment during the fourth quarter worth about $1,036,000. State of Wyoming bought a new position in Lucky Strike Entertainment during the fourth quarter valued at approximately $74,000. MYDA Advisors LLC bought a new position in shares of Lucky Strike Entertainment during the 4th quarter valued at $424,000. Finally, Private Management Group Inc. lifted its stake in shares of Lucky Strike Entertainment by 2.6% in the 4th quarter. Private Management Group Inc. now owns 1,911,134 shares of the company's stock valued at $16,187,000 after acquiring an additional 48,093 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F. Shannon in 1997 and is headquartered in Mechanicsville, VA.

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