Bowlero (NYSE:BOWL) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Bowlero (NYSE:BOWL - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $16.00 target price on the stock.

Other analysts have also issued research reports about the company. B. Riley reaffirmed a "buy" rating and issued a $17.00 price target on shares of Bowlero in a research note on Tuesday, September 3rd. Canaccord Genuity Group reiterated a "buy" rating and set a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada upgraded shares of Bowlero to a "moderate buy" rating in a research report on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a report on Monday, October 28th. They issued a "neutral" rating and a $12.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Bowlero from $16.00 to $15.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.89.

Bowlero Stock Up 2.9 %

Shares of NYSE:BOWL traded up $0.35 during trading on Tuesday, reaching $12.09. The stock had a trading volume of 855,154 shares, compared to its average volume of 797,818. The stock has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $12.20. Bowlero has a 52 week low of $9.70 and a 52 week high of $15.47. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -19.25 and a beta of 0.69.

Bowlero (NYSE:BOWL - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. The company had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. During the same period in the previous year, the business posted ($0.10) EPS. On average, analysts forecast that Bowlero will post 0.45 EPS for the current year.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.82%. The ex-dividend date was Friday, November 22nd. Bowlero's payout ratio is -36.07%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of Bowlero by 22.6% during the 3rd quarter. Barclays PLC now owns 7,807 shares of the company's stock worth $91,000 after acquiring an additional 1,439 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after purchasing an additional 978 shares during the last quarter. Centiva Capital LP bought a new position in Bowlero during the third quarter worth $207,000. Victory Capital Management Inc. increased its holdings in shares of Bowlero by 13.1% in the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company's stock valued at $389,000 after purchasing an additional 3,835 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company's stock valued at $389,000 after purchasing an additional 33,111 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

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.