JPMorgan Chase & Co. Cuts Bowlero (NYSE:BOWL) Price Target to $15.00

Bowlero (NYSE:BOWL) had its price objective trimmed by JPMorgan Chase & Co. from $16.00 to $15.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 target price on shares of Bowlero in a research note on Monday, September 30th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Finally, Piper Sandler initiated coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Bowlero Stock Down 0.5 %

Shares of BOWL traded down $0.06 during trading hours on Tuesday, hitting $11.49. 62,187 shares of the company were exchanged, compared to its average volume of 808,075. The firm’s fifty day moving average is $11.49 and its 200 day moving average is $12.16. Bowlero has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -18.93 and a beta of 0.62.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. The firm had revenue of $260.20 million for the quarter, compared to analyst estimates of $249.42 million. Bowlero had a negative return on equity of 34.55% and a negative net margin of 6.63%. During the same quarter in the previous year, the company posted ($0.10) EPS. Analysts anticipate that Bowlero will post 0.2 EPS for the current year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.22 annualized dividend and a dividend yield of 1.91%. Bowlero’s dividend payout ratio is currently -36.07%.

Hedge Funds Weigh In On Bowlero

Several institutional investors have recently modified their holdings of BOWL. Champlain Investment Partners LLC lifted its holdings in Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after acquiring an additional 275,525 shares during the period. Boston Partners grew its position in shares of Bowlero by 6.0% during 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. Marshall Wace LLP increased its stake in shares of Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after purchasing an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Bowlero in the second quarter valued at approximately $2,648,000. Finally, Squarepoint Ops LLC raised its stake in shares of Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after buying an additional 164,603 shares during the period. 68.11% of the stock is owned by 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.