Bowlero (NYSE:BOWL) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Bowlero (NYSE:BOWL) in a report released on Monday, Marketbeat reports. The firm set a “neutral” rating and a $12.00 price target on the stock. Piper Sandler’s price target would suggest a potential upside of 6.57% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Bowlero Stock Performance

Bowlero stock opened at $11.26 on Monday. The stock has a market cap of $1.68 billion, a P/E ratio of 21.25 and a beta of 0.60. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The firm’s fifty day moving average price is $11.57 and its 200-day moving average price is $12.21.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $283.87 million during the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. Sell-side analysts predict that Bowlero will post 0.29 earnings per share for the current year.

Institutional Trading of Bowlero

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock valued at $110,000 after buying an additional 2,500 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after buying an additional 978 shares during the period. Diversified Trust Co boosted its position in Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after buying an additional 6,700 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Bowlero during the second quarter worth about $392,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bowlero during the second quarter worth about $411,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.