Hollywood Bowl Group (LON:BOWL) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Hollywood Bowl Group shares fell below their 200-day moving average, trading as low as GBX 263 and last changing hands at GBX 264.50, compared with the average of GBX 270.04.
• Despite the technical decline, all four cited analysts maintain Buy ratings, with a consensus price target of GBX 397.75 versus the current share price.
• The company has a £440.66 million market capitalization and trades at a price-to-earnings ratio of 13.32; its board also approved a buyback authorization, although the article lists the permitted number of shares as zero.

Shares of Hollywood Bowl Group plc (LON:BOWL - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 270.04 and traded as low as GBX 263. Hollywood Bowl Group shares last traded at GBX 264.50, with a volume of 1,377,203 shares trading hands.

Analyst Upgrades and Downgrades

BOWL has been the topic of a number of recent research reports. Berenberg Bank restated a "buy" rating and issued a GBX 450 price target on shares of Hollywood Bowl Group in a research report on Friday, August 7th. Shore Capital Group reaffirmed a "buy" rating and set a GBX 350 price objective on shares of Hollywood Bowl Group in a research report on Friday, July 10th. Royal Bank Of Canada dropped their price objective on shares of Hollywood Bowl Group from GBX 420 to GBX 415 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 376 target price on shares of Hollywood Bowl Group in a report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Hollywood Bowl Group currently has a consensus rating of "Buy" and a consensus price target of GBX 397.75.

Hollywood Bowl Group Price Performance

The company has a debt-to-equity ratio of 149.86, a current ratio of 0.71 and a quick ratio of 1.62. The stock has a market capitalization of £440.66 million, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.87 and a beta of 0.36. The company has a 50-day simple moving average of GBX 282.35 and a two-hundred day simple moving average of GBX 270.04.

Hollywood Bowl Group declared that its board has approved a stock repurchase program on Wednesday, July 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

About Hollywood Bowl Group

Hollywood Bowl Group plc is a leading international leisure operator of ten-pin bowling and mini-golf centres, bringing families and friends together for affordable fun and safe, healthy competition. Our unique purpose-led culture and proven investment-led strategy are enabling us to capitalise on the significant growth opportunities in the markets we operate in, and achieve strong returns on capital invested. We are market leader in the UK and Canada, and one of the largest operators of ten-pin bowling centres in the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.