Bowlero (NYSE:BOWL) Given New $19.00 Price Target at Stifel Nicolaus

Bowlero (NYSE:BOWL) had its price target lowered by investment analysts at Stifel Nicolaus from $21.00 to $19.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 64.08% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Roth Mkm lifted their price objective on Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Oppenheimer lifted their price target on Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.00.

Bowlero Price Performance

BOWL traded down $0.11 during trading on Tuesday, hitting $11.58. The company’s stock had a trading volume of 605,565 shares, compared to its average volume of 1,052,745. 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 $1.73 billion, a price-to-earnings ratio of 64.39 and a beta of 0.50. The business’s fifty day simple moving average is $12.97 and its 200 day simple moving average is $12.10. Bowlero has a twelve month low of $8.85 and a twelve month high of $15.47.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company 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%. On average, equities research analysts forecast that Bowlero will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction on 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 completion of the transaction, the director now directly 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 accessible through the SEC website. 56.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cadian Capital Management LP purchased a new position in Bowlero in the 3rd quarter valued at approximately $4,810,000. Vanguard Group Inc. boosted its holdings in Bowlero by 4.8% in the third 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 raised its position in Bowlero by 283.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after purchasing an additional 356,485 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Bowlero in the 3rd quarter valued at about $3,145,000. Finally, Private Management Group Inc. purchased a new position in shares of Bowlero in the 3rd quarter valued at about $12,217,000. 68.11% of the stock is currently 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.