Bowlero (NYSE:BOWL) Receives New Coverage from Analysts at Piper Sandler

Investment analysts at Piper Sandler began coverage on shares of Bowlero (NYSE:BOWL) in a research report issued on Monday, Briefing.com reports. The firm set a “neutral” rating and a $12.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 3.63% from the company’s current price.

A number of other research firms also recently weighed in on BOWL. B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Bowlero Trading Up 2.6 %

NYSE:BOWL opened at $11.58 on Monday. The stock’s 50-day moving average is $11.56 and its 200-day moving average is $12.23. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The stock has a market cap of $1.72 billion, a P/E ratio of 21.85 and a beta of 0.60.

Bowlero (NYSE:BOWL) last posted its earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The business had revenue of $283.87 million for 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%. As a group, equities analysts forecast that Bowlero will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Bowlero

Institutional investors and hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC lifted its position in shares of 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 during the period. Boston Partners raised its holdings in shares of Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock valued at $49,004,000 after purchasing an additional 205,902 shares during the period. Marshall Wace LLP boosted its position 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 in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Bowlero during the 2nd quarter worth about $2,648,000. Finally, Squarepoint Ops LLC increased its position in Bowlero by 201.2% in the 2nd 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 in the last quarter. 68.11% of the stock is currently owned by 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.