Oppenheimer Lowers Bowlero (NYSE:BOWL) Price Target to $15.00

Bowlero (NYSE:BOWL) had its price objective reduced by stock analysts at Oppenheimer from $18.00 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 32.86% from the company’s previous close.

BOWL has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on Bowlero from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Roth Mkm increased their price target on Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus cut their price objective on Bowlero from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Price Performance

NYSE:BOWL opened at $11.29 on Tuesday. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80. The firm has a market cap of $1.69 billion, a P/E ratio of 62.72 and a beta of 0.57. The business’s 50-day moving average price is $12.69 and its 200 day moving average price is $12.15.

Bowlero (NYSE:BOWL) last released 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 business 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%. As a group, sell-side analysts predict that Bowlero will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 56.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cadian Capital Management LP bought a new position in shares of Bowlero during the 3rd quarter valued at $4,810,000. Vanguard Group Inc. increased its position in 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 during the last quarter. Kennedy Capital Management LLC raised its holdings in Bowlero by 283.8% during the third quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after buying an additional 356,485 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Bowlero in the third quarter worth about $3,145,000. Finally, Private Management Group Inc. bought a new stake in shares of Bowlero during the 3rd quarter worth about $12,217,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.