Bowlero (NYSE:BOWL) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

Bowlero (NYSE:BOWL - Free Report) had its price objective cut by JPMorgan Chase & Co. from $16.00 to $15.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently weighed in on BOWL. B. Riley reaffirmed a "buy" rating and set a $17.00 target price 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. Finally, Piper Sandler started coverage on shares of Bowlero in a report on Monday, October 28th. They issued a "neutral" rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.88.

Bowlero Stock Up 11.9 %

Shares of BOWL traded up $1.24 during trading hours on Tuesday, reaching $11.62. 1,872,705 shares of the company traded hands, compared to its average volume of 813,303. Bowlero has a 12 month low of $8.85 and a 12 month high of $15.47. The company's fifty day moving average price is $11.47 and its two-hundred day moving average price is $12.17. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -17.88 and a beta of 0.62.

Bowlero (NYSE:BOWL - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The business had revenue of $260.20 million for the quarter, compared to analysts' expectations of $249.42 million. During the same period in the previous year, the firm posted ($0.10) EPS. On average, analysts expect that Bowlero will post 0.2 EPS for the current year.

Hedge Funds Weigh In On Bowlero

Several institutional investors and hedge funds have recently modified their holdings of BOWL. Price T Rowe Associates Inc. MD grew its stake in Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after acquiring an additional 978 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Bowlero during the second quarter worth about $392,000. XTX Topco Ltd acquired a new stake in Bowlero in the 2nd quarter worth about $411,000. Victory Capital Management Inc. boosted its stake in Bowlero by 63.3% during the 2nd quarter. Victory Capital Management Inc. now owns 29,264 shares of the company's stock worth $424,000 after purchasing an additional 11,341 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Bowlero by 12.3% in the first quarter. Bessemer Group Inc. now owns 37,200 shares of the company's stock valued at $509,000 after purchasing an additional 4,070 shares during the period. Institutional investors and hedge funds 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.