Canaccord Genuity Group Lowers Bowlero (NYSE:BOWL) Price Target to $18.00

Bowlero (NYSE:BOWL) had its target price dropped by research analysts at Canaccord Genuity Group from $20.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 53.98% from the stock’s current price.

A number of other research firms have also recently weighed in on BOWL. Roth Mkm lifted their target price on shares of Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. dropped their price target on Bowlero from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday. Oppenheimer lowered their target price on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Stifel Nicolaus decreased their price target on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, CJS Securities restated a “market perform” rating on shares of Bowlero in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Bowlero Stock Performance

Shares of NYSE BOWL traded up $0.49 during midday trading on Tuesday, hitting $11.69. 459,523 shares of the company’s stock traded hands, compared to its average volume of 1,065,414. The firm has a fifty day moving average of $12.74 and a 200 day moving average of $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 quick ratio of 1.14 and a current ratio of 1.22. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 63.33 and a beta of 0.57.

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

Insiders Place Their Bets

In related news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at approximately $13,397,827.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 56.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BOWL. Private Management Group Inc. purchased a new position in shares of Bowlero during the third quarter valued at $12,217,000. Cadian Capital Management LP bought a new position in shares of Bowlero during the third quarter valued at approximately $4,810,000. Kent Lake Capital LLC increased its holdings in Bowlero by 500.0% during the third quarter. Kent Lake Capital LLC now owns 600,000 shares of the company’s stock valued at $5,772,000 after buying an additional 500,000 shares during the period. Kennedy Capital Management LLC raised its stake in Bowlero by 283.8% in the third quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock worth $4,638,000 after buying an additional 356,485 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new stake in Bowlero during the third quarter worth $3,145,000. 68.11% of the stock is currently 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.