Bowlero Corp. (NYSE:BOWL) Receives $18.67 Average Target Price from Analysts

Shares of Bowlero Corp. (NYSE:BOWL) have been given an average rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.00.

A number of brokerages have issued reports on BOWL. Stifel Nicolaus decreased their price target on Bowlero from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Oppenheimer raised their target price on shares of Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Finally, Roth Mkm upped their price target on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th.

Bowlero Stock Performance

Shares of BOWL opened at $11.30 on Friday. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47. The company’s 50 day simple moving average is $12.92 and its 200 day simple moving average is $12.10. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 62.78 and a beta of 0.50. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). The business had revenue of $305.67 million for 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, sell-side analysts predict that Bowlero will post 0.17 EPS for the current year.

Bowlero Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.055 dividend. The ex-dividend date was Thursday, February 22nd. Bowlero’s payout ratio is 122.22%.

Insiders Place Their Bets

In other news, Director Michelle D. Wilson sold 87,267 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total value of $1,123,998.96. Following the transaction, the director now owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 56.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BOWL. Bfsg LLC acquired a new stake in Bowlero during the 3rd quarter valued at $114,000. Raymond James & Associates acquired a new stake in Bowlero during the 3rd quarter valued at approximately $164,000. Bank of New York Mellon Corp increased its holdings in Bowlero by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,436 shares of the company’s stock worth $1,168,000 after purchasing an additional 6,835 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bowlero by 23.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock valued at $93,000 after purchasing an additional 1,842 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC boosted its stake in shares of Bowlero by 36.5% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 284,629 shares of the company’s stock valued at $2,738,000 after buying an additional 76,054 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

About Bowlero

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.