Bowlero (NYSE:BOWL) Given New $17.00 Price Target at B. Riley

Bowlero (NYSE:BOWL) had its price target cut by equities research analysts at B. Riley from $19.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 52.47% from the stock’s previous close.

BOWL has been the subject of several other reports. 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 research report on Tuesday. Roth Mkm cut their price objective on Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus cut their price objective on Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. CJS Securities restated a “market perform” rating on shares of Bowlero in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Price Performance

Shares of BOWL stock traded down $0.05 during midday trading on Tuesday, reaching $11.15. 1,563,792 shares of the company traded hands, compared to its average volume of 1,078,016. The firm’s 50 day simple moving average is $12.72 and its two-hundred day simple moving average is $12.15. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. The firm has a market cap of $1.67 billion, a PE ratio of 62.56 and a beta of 0.57.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data 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 return on equity of 98.75% and a net margin of 6.33%. The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $300.46 million. On average, equities research analysts expect 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 business’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 completion of the transaction, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.54% of the stock is currently owned by insiders.

Institutional Trading of Bowlero

Several institutional investors have recently made changes to their positions in BOWL. Private Management Group Inc. purchased a new stake in shares of Bowlero during the 3rd quarter valued at $12,217,000. Cadian Capital Management LP purchased a new stake in Bowlero during the 3rd quarter worth $4,810,000. Kent Lake Capital LLC boosted its position in Bowlero by 500.0% during the 3rd quarter. Kent Lake Capital LLC now owns 600,000 shares of the company’s stock worth $5,772,000 after purchasing an additional 500,000 shares during the period. Kennedy Capital Management LLC boosted its position in Bowlero by 283.8% during 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 during the period. Finally, Primecap Management Co. CA purchased a new stake in Bowlero during the 3rd quarter worth $3,145,000. 68.11% of the stock is owned by hedge funds and other 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.