Analysts Set Bowlero Corp. (NYSE:BOWL) Price Target at $16.57

Bowlero Corp. (NYSE:BOWL) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.57.

Several research analysts have issued reports on BOWL shares. B. Riley reissued a “buy” rating and set a $17.00 price objective on shares of Bowlero in a research report on Tuesday, June 25th. Craig Hallum raised their target price on shares of Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Stifel Nicolaus reduced their target price on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Canaccord Genuity Group reduced their target price on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Oppenheimer reduced their target price on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th.

Bowlero Stock Performance

Shares of Bowlero stock opened at $14.23 on Friday. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47. The company has a market capitalization of $2.12 billion, a P/E ratio of 26.85 and a beta of 0.62. The company’s fifty day moving average is $12.97 and its two-hundred day moving average is $12.87.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.11). Bowlero had a return on equity of 330.46% and a net margin of 11.24%. The business had revenue of $337.67 million for the quarter, compared to analysts’ expectations of $341.45 million. As a group, equities analysts expect that Bowlero will post 0.04 earnings per share for the current year.

Bowlero Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is 41.51%.

Insider Activity at Bowlero

In related news, Director Michelle D. Wilson sold 39,309 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total value of $549,539.82. Following the completion of the sale, the director now owns 958,162 shares in the company, valued at $13,395,104.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the completion of the transaction, the director now directly owns 848,471 shares in the company, valued at approximately $10,945,275.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michelle D. Wilson sold 39,309 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the transaction, the director now owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The disclosure for this sale can be found here. Company insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Several hedge funds have recently added to or reduced their stakes in BOWL. Kennedy Capital Management LLC increased its holdings in Bowlero by 283.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after acquiring an additional 356,485 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after buying an additional 275,525 shares in the last quarter. Boston Partners grew its holdings in shares of Bowlero by 7.4% during the fourth quarter. Boston Partners now owns 3,440,211 shares of the company’s stock worth $47,632,000 after buying an additional 236,060 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Bowlero by 4.8% during the third quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock worth $40,685,000 after buying an additional 193,801 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Bowlero during the first quarter worth about $1,636,000. 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.