Bowlero (NYSE:BOWL) Price Target Lowered to $17.00 at B. Riley

Bowlero (NYSE:BOWL - Get Free Report) had its price objective dropped by analysts at B. Riley from $19.00 to $17.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's target price would indicate a potential upside of 50.58% from the stock's previous close.

Several other research firms have also recently weighed in on BOWL. Canaccord Genuity Group decreased their price objective on shares of Bowlero from $20.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday. Oppenheimer cut their target price on shares of Bowlero from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday. Stifel Nicolaus lowered their price target on Bowlero from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday. CJS Securities restated a "market perform" rating on shares of Bowlero in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Bowlero from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bowlero presently has a consensus rating of "Moderate Buy" and an average target price of $16.57.

Bowlero Stock Up 0.8 %

Shares of BOWL stock traded up $0.09 during mid-day trading on Tuesday, hitting $11.29. The company's stock had a trading volume of 2,262,241 shares, compared to its average volume of 1,086,653. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 62.56 and a beta of 0.57. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The business has a 50-day moving average price of $12.72 and a 200 day moving average price of $12.15.

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

Insider Buying and Selling at Bowlero

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the sale, the director now owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 56.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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