Canaccord Genuity Group Reiterates “Buy” Rating for Bowlero (NYSE:BOWL)

Bowlero (NYSE:BOWL)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a report issued on Monday, Benzinga reports. They currently have a $18.00 target price on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 59.15% from the company’s current price.

Separately, B. Riley reiterated a “buy” rating and set a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Trading Down 3.7 %

Shares of Bowlero stock opened at $11.31 on Monday. The stock has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $12.43. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47. The company has a market capitalization of $1.68 billion, a P/E ratio of 21.34 and a beta of 0.59.

Bowlero (NYSE:BOWL) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share (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 company had revenue of $283.87 million for the quarter, compared to the consensus estimate of $273.33 million. On average, analysts predict that Bowlero will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bullseye Asset Management LLC grew its stake in shares of Bowlero by 39.2% during the 4th quarter. Bullseye Asset Management LLC now owns 159,940 shares of the company’s stock worth $2,265,000 after acquiring an additional 45,000 shares during the period. GLOBALT Investments LLC GA bought a new position in shares of Bowlero during the 4th quarter worth $625,000. PNC Financial Services Group Inc. grew its stake in shares of Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after acquiring an additional 2,500 shares during the period. Diversified Trust Co grew its stake in shares of Bowlero by 39.4% during the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after acquiring an additional 6,700 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Bowlero during the 1st quarter worth $1,636,000. Institutional investors 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.