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

by · The Markets Daily

Canaccord Genuity Group reissued their buy rating on shares of Bowlero (NYSE:BOWL – Free Report) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

Separately, B. Riley restated a buy rating and set a $17.00 price target on shares of Bowlero in a research note on Tuesday, September 3rd. One investment analyst has 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 has an average rating of Moderate Buy and a consensus price target of $16.57.

Read Our Latest Analysis on Bowlero

Bowlero Trading Up 1.6 %

BOWL opened at $11.49 on Monday. The stock’s 50 day simple moving average is $11.52 and its 200-day simple moving average is $12.42. The stock has a market cap of $1.71 billion, a PE ratio of 21.67 and a beta of 0.59. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47.

Bowlero (NYSE:BOWL – Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $283.87 million during the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative net margin of 7.24% and a negative return on equity of 5.36%. Equities analysts forecast that Bowlero will post 0.29 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) is currently 41.51%.

Institutional Investors Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently bought and sold shares of BOWL. Price T Rowe Associates Inc. MD grew its holdings in shares of Bowlero by 7.0% during the first 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. PNC Financial Services Group Inc. lifted its position in Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after buying an additional 2,500 shares in the last quarter. Bessemer Group Inc. grew its holdings in Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock worth $509,000 after acquiring an additional 4,070 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in Bowlero by 5.2% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company’s stock valued at $1,368,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after purchasing an additional 6,700 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.

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