Bowlero (NYSE:BOWL) Shares Up 5.8% – Should You Buy?

Bowlero Corp. (NYSE:BOWL) was up 5.8% on Tuesday . The stock traded as high as $12.47 and last traded at $12.42. Approximately 261,681 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 795,285 shares. The stock had previously closed at $11.74.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and set a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. Truist Financial started coverage on shares of Bowlero in a research note on Tuesday. They issued a “buy” rating and a $16.00 target price for the company. Finally, 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. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.89.

Bowlero Stock Performance

The business has a 50 day moving average of $11.70 and a two-hundred day moving average of $12.20. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -19.25 and a beta of 0.69.

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

Bowlero Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, November 22nd. Bowlero’s dividend payout ratio is currently -36.07%.

Institutional Investors Weigh In On Bowlero

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOWL. Price T Rowe Associates Inc. MD increased its stake in shares of Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after purchasing an additional 978 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in Bowlero by 5.2% during the second quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company’s stock valued at $1,368,000 after purchasing an additional 4,700 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Bowlero in the second quarter worth about $392,000. Lisanti Capital Growth LLC purchased a new position in shares of Bowlero in the second quarter worth about $2,648,000. Finally, Victory Capital Management Inc. raised its position in shares of Bowlero by 63.3% in the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock valued at $424,000 after purchasing an additional 11,341 shares during the period. 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.