Bowlero Corp. (NYSE:BOWL) Receives $21.08 Average Target Price from Analysts

Posted by Defense World Staff on Apr 24th, 2023

Shares of Bowlero Corp. (NYSE:BOWL – Get Rating) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $21.08.

BOWL has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Bowlero in a report on Monday, March 27th. They set a “buy” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Bowlero from $18.00 to $20.00 in a report on Friday, March 17th. Canaccord Genuity Group started coverage on Bowlero in a research note on Wednesday, March 8th. They issued a “buy” rating and a $22.00 target price on the stock. Craig Hallum assumed coverage on Bowlero in a research note on Friday, February 24th. They issued a “buy” rating on the stock. Finally, Oppenheimer increased their target price on Bowlero from $16.00 to $18.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st.

Bowlero Trading Down 3.0 %

NYSE:BOWL opened at $15.04 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -45.58 and a beta of 0.23. The stock has a 50-day moving average price of $15.54 and a two-hundred day moving average price of $14.33. Bowlero has a 1 year low of $8.19 and a 1 year high of $17.45.

Bowlero (NYSE:BOWL – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The business had revenue of $273.39 million for the quarter, compared to analyst estimates of $259.15 million. Bowlero had a negative return on equity of 288.06% and a negative net margin of 4.19%. Sell-side analysts forecast that Bowlero will post 0.51 earnings per share for the current year.

Insider Transactions at Bowlero

In other Bowlero news, Director A-B Parent Llc sold 4,908,234 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $15.02, for a total value of $73,721,674.68. Following the completion of the sale, the director now directly owns 63,484,324 shares in the company, valued at $953,534,546.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bowlero news, CEO Thomas F. Shannon sold 230,482 shares of Bowlero stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $14.87, for a total value of $3,427,267.34. Following the sale, the chief executive officer now directly owns 769,518 shares in the company, valued at approximately $11,442,732.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A-B Parent Llc sold 4,908,234 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $15.02, for a total transaction of $73,721,674.68. Following the transaction, the director now owns 63,484,324 shares in the company, valued at $953,534,546.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,630,169 shares of company stock worth $84,796,336. Company insiders own 53.65% of the company’s stock.

Institutional Investors Weigh In On Bowlero

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Bowlero by 134.3% during the third quarter. Vanguard Group Inc. now owns 3,602,828 shares of the company’s stock valued at $44,352,000 after acquiring an additional 2,064,961 shares during the last quarter. BlackRock Inc. boosted its holdings in Bowlero by 0.8% during the third quarter. BlackRock Inc. now owns 2,508,405 shares of the company’s stock worth $30,878,000 after buying an additional 20,392 shares in the last quarter. Marshall Wace LLP lifted its holdings in Bowlero by 73.2% during the third quarter. Marshall Wace LLP now owns 1,044,264 shares of the company’s stock valued at $12,853,000 after purchasing an additional 441,399 shares in the last quarter. American Century Companies Inc. acquired a new stake in Bowlero during the fourth quarter worth about $13,483,000. Finally, State Street Corp increased its position in shares of Bowlero by 8.4% during the third quarter. State Street Corp now owns 652,598 shares of the company’s stock valued at $8,033,000 after acquiring an additional 50,493 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

About Bowlero

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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. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.