Bowlero Corp. (NYSE:BOWL) Receives $16.57 Average Price Target from Analysts

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

BOWL has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. B. Riley reaffirmed a "buy" rating and set a $17.00 price objective on shares of Bowlero in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada upgraded shares of Bowlero to a "moderate buy" rating in a report on Thursday, October 3rd.

Hedge Funds Weigh In On Bowlero

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company's stock valued at $49,004,000 after purchasing an additional 205,902 shares during the period. Champlain Investment Partners LLC boosted its stake in 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. Private Management Group Inc. increased its holdings in Bowlero by 2.5% in the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company's stock valued at $18,698,000 after buying an additional 32,076 shares during the period. Marshall Wace LLP raised its stake in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock valued at $5,271,000 after buying an additional 183,252 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Bowlero during the 2nd quarter worth about $2,648,000. 68.11% of the stock is currently owned by institutional investors.

Bowlero Price Performance

NYSE:BOWL traded up $0.14 during mid-day trading on Friday, reaching $11.81. The stock had a trading volume of 486,260 shares, compared to its average volume of 835,981. The stock has a market cap of $1.74 billion, a P/E ratio of -18.17 and a beta of 0.60. The business's 50 day moving average is $11.41 and its 200 day moving average is $12.34. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The business had revenue of $283.87 million for the quarter, compared to analyst estimates of $273.33 million. Equities analysts expect that Bowlero will post 0.29 EPS for the current year.

Bowlero Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.055 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.22 annualized dividend and a yield of 1.86%. Bowlero's dividend payout ratio is -33.85%.

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.