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

Analysts at Truist Financial assumed coverage on shares of Bowlero (NYSE:BOWL) in a report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Truist Financial’s target price would suggest a potential upside of 36.29% from the company’s current price.

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

Bowlero Stock Performance

NYSE:BOWL opened at $11.74 on Tuesday. The stock’s fifty day moving average is $11.70 and its 200 day moving average is $12.20. The firm has a market capitalization of $1.72 billion, a PE ratio of -19.25 and a beta of 0.69. Bowlero has a fifty-two week low of $9.70 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.30. The firm had revenue of $260.20 million during the quarter, compared to analyst estimates of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter last year, the business earned ($0.10) EPS. Equities analysts forecast that Bowlero will post 0.45 EPS for the current year.

Institutional Trading of Bowlero

A number of hedge funds have recently bought and sold shares of the stock. Private Management Group Inc. lifted its stake in shares of Bowlero by 2.5% during the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after purchasing an additional 32,076 shares during the last quarter. Systematic Financial Management LP raised its holdings in Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock worth $9,839,000 after purchasing an additional 161,951 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Bowlero during the third quarter valued at about $8,281,000. Marshall Wace LLP boosted its holdings 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, King Luther Capital Management Corp grew its position in shares of Bowlero by 51.0% in the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $4,181,000 after buying an additional 120,215 shares during the last quarter. Hedge funds and other institutional investors 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.