Stock Buyback Program Initiated by Hollywood Bowl Group (LON:BOWL) Board

Hollywood Bowl Group (LON:BOWL) announced that its board has initiated a stock buyback plan on Wednesday, July 1st, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Hollywood Bowl Group from GBX 420 to GBX 415 and set an “outperform” rating on the stock in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 376 target price on shares of Hollywood Bowl Group in a research note on Thursday, May 28th. Shore Capital Group restated a “buy” rating and set a GBX 325 price objective on shares of Hollywood Bowl Group in a research note on Wednesday, May 27th. Finally, Berenberg Bank boosted their price target on shares of Hollywood Bowl Group from GBX 440 to GBX 450 and gave the company a “buy” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hollywood Bowl Group has a consensus rating of “Buy” and an average price target of GBX 391.50.

Hollywood Bowl Group Stock Performance

Shares of LON BOWL traded up GBX 2.50 during midday trading on Wednesday, reaching GBX 277. 1,167,567 shares of the company traded hands, compared to its average volume of 2,064,525. The company has a market cap of £464.37 million, a price-to-earnings ratio of 13.95, a PEG ratio of 0.87 and a beta of 0.36. The stock has a 50-day moving average price of GBX 272.79 and a 200 day moving average price of GBX 266.18. Hollywood Bowl Group has a 52 week low of GBX 227.50 and a 52 week high of GBX 312. The company has a debt-to-equity ratio of 149.86, a current ratio of 0.71 and a quick ratio of 1.62.

Hollywood Bowl Group (LON:BOWL) last announced its earnings results on Wednesday, May 27th. The company reported GBX 14.51 earnings per share (EPS) for the quarter. The firm had revenue of £141.54 million during the quarter. Hollywood Bowl Group had a net margin of 12.75% and a return on equity of 21.75%. Sell-side analysts anticipate that Hollywood Bowl Group will post 22.5511696 earnings per share for the current fiscal year.

Insider Activity at Hollywood Bowl Group

In related news, insider Ivan Schofield sold 53,391 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of GBX 310, for a total value of £165,512.10. 3.50% of the stock is currently owned by corporate insiders.

Hollywood Bowl Group Company Profile

Hollywood Bowl Group plc is a leading international leisure operator of ten-pin bowling and mini-golf centres, bringing families and friends together for affordable fun and safe, healthy competition.

Our unique purpose-led culture and proven investment-led strategy are enabling us to capitalise on the significant growth opportunities in the markets we operate in, and achieve strong returns on capital invested.

We are market leader in the UK and Canada, and one of the largest operators of ten-pin bowling centres in the world.