Canaccord Genuity Group Reaffirms Buy Rating for Bowlero (NYSE:BOWL)

Canaccord Genuity Group reaffirmed their buy rating on shares of Bowlero (NYSE:BOWLFree Report) in a research note released on Monday morning, Benzinga reports. They currently have a $18.00 price objective on the stock.

Separately, B. Riley reissued a buy rating and set a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Bowlero has a consensus rating of Moderate Buy and an average target price of $16.57.

View Our Latest Analysis on Bowlero

Bowlero Price Performance

NYSE BOWL opened at $11.38 on Monday. The company’s fifty day moving average price is $11.51 and its two-hundred day moving average price is $12.42. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 21.47 and a beta of 0.60. Bowlero has a 12 month low of $8.85 and a 12 month high of $15.47.

Bowlero (NYSE:BOWLGet Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $283.87 million during the quarter, compared to analyst estimates of $273.33 million. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. As a group, analysts anticipate that Bowlero will post 0.29 EPS for the current year.

Bowlero Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) is 41.51%.

Institutional Trading of Bowlero

A number of large investors have recently modified their holdings of BOWL. Russell Investments Group Ltd. bought a new position in Bowlero in the 1st quarter worth about $1,636,000. Boston Partners increased its position in Bowlero by 6.0% in the 1st quarter. Boston Partners now owns 3,646,113 shares of the company’s stock valued at $49,004,000 after acquiring an additional 205,902 shares during the period. Champlain Investment Partners LLC raised its stake in Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after acquiring an additional 275,525 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Bowlero during the 2nd quarter worth $2,648,000. Finally, Diversified Trust Co boosted its position in 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. Institutional investors and hedge funds own 68.11% of the company’s stock.

Bowlero Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Bowlero (NYSE:BOWL)

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