Bowlero (NYSE:BOWL) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Bowlero (NYSE:BOWL) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 28.10% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Oppenheimer boosted their target price on Bowlero from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus lowered their price objective on Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, Roth Mkm raised their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bowlero has an average rating of “Buy” and an average target price of $18.00.

Bowlero Trading Up 2.7 %

BOWL stock opened at $12.49 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 69.39 and a beta of 0.57. 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 has a one year low of $8.85 and a one year high of $15.47. The company’s 50 day moving average price is $12.74 and its two-hundred day moving average price is $12.13.

Bowlero (NYSE:BOWL) last issued 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 analysts’ expectations of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. As a group, analysts predict that Bowlero will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Bowlero

In related news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the transaction, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 56.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BOWL. Cadian Capital Management LP purchased a new stake in shares of Bowlero in the 3rd quarter worth about $4,810,000. Vanguard Group Inc. lifted its holdings in Bowlero by 4.8% in 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 period. Kennedy Capital Management LLC boosted its position in Bowlero by 283.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after acquiring an additional 356,485 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Bowlero during the 3rd quarter worth approximately $3,145,000. Finally, Private Management Group Inc. bought a new position in shares of Bowlero in the 3rd quarter worth approximately $12,217,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.