Share Repurchase Program Announced by Hollywood Bowl Group (LON:BOWL)

Hollywood Bowl Group (LON:BOWL) announced that its board has authorized a stock buyback program on Wednesday, July 1st, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank Of Canada lowered their price target on Hollywood Bowl Group from GBX 420 to GBX 415 and set an “outperform” rating on the stock in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 376 target price on shares of Hollywood Bowl Group in a research report on Thursday, May 28th. Berenberg Bank raised their price target on Hollywood Bowl Group from GBX 440 to GBX 450 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Shore Capital Group reiterated a “buy” rating and issued a GBX 325 price objective on shares of Hollywood Bowl Group in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 391.50.

Hollywood Bowl Group Stock Performance

Shares of BOWL traded up GBX 2.50 during trading hours on Wednesday, reaching GBX 277. 1,167,567 shares of the company traded hands, compared to its average volume of 2,064,525. Hollywood Bowl Group has a 1-year low of GBX 227.50 and a 1-year high of GBX 312. The stock has a market cap of £464.37 million, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.87 and a beta of 0.36. The stock’s fifty day moving average is GBX 272.79 and its 200 day moving average is GBX 266.18. The company has a debt-to-equity ratio of 149.86, a quick ratio of 1.62 and a current ratio of 0.71.

Hollywood Bowl Group (LON:BOWL) last posted its quarterly earnings results on Wednesday, May 27th. The company reported GBX 14.51 EPS for the quarter. Hollywood Bowl Group had a return on equity of 21.75% and a net margin of 12.75%.The firm had revenue of £141.54 million during the quarter. Equities research analysts anticipate that Hollywood Bowl Group will post 22.5511696 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hollywood Bowl Group news, insider Ivan Schofield sold 53,391 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of GBX 310, for a total transaction of £165,512.10. 3.50% of the stock is currently owned by company insiders.

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.