Bowlero (NYSE:BOWL) Price Target Increased to $18.00 by Analysts at Craig Hallum

Bowlero (NYSE:BOWL) had its target price increased by Craig Hallum from $17.00 to $18.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on BOWL. Roth Mkm cut their price target on shares of Bowlero from $17.00 to $15.00 and set a buy rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on Bowlero from $17.00 to $16.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Canaccord Genuity Group cut their price objective on Bowlero from $20.00 to $18.00 and set a buy rating for the company in a report on Tuesday. B. Riley lowered their target price on shares of Bowlero from $19.00 to $17.00 and set a buy rating on the stock in a report on Tuesday. Finally, Oppenheimer reduced their price target on shares of Bowlero from $18.00 to $15.00 and set an outperform rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Bowlero currently has a consensus rating of Moderate Buy and a consensus target price of $16.57.

Bowlero Price Performance

Shares of NYSE:BOWL opened at $11.29 on Tuesday. The business’s 50 day moving average is $12.72 and its 200-day moving average is $12.15. 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 firm has a market capitalization of $1.69 billion, a PE ratio of 62.72 and a beta of 0.57. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47.

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

Bowlero Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is currently 122.22%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bowlero

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

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.