Brunswick (NYSE:BC) Price Target Cut to $86.00

Brunswick (NYSE:BC) had its price target reduced by analysts at Morgan Stanley from $91.00 to $86.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 5.79% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Truist Financial dropped their price target on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Stifel Nicolaus lifted their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. BNP Paribas reiterated a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Finally, Raymond James cut shares of Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.83.

Brunswick Price Performance

NYSE:BC traded up $1.29 during midday trading on Friday, hitting $81.29. 253,493 shares of the stock were exchanged, compared to its average volume of 748,942. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 13.64 and a beta of 1.56. The business has a 50-day moving average price of $89.29 and a two-hundred day moving average price of $84.80. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $2.57 EPS. Brunswick’s revenue for the quarter was down 21.7% on a year-over-year basis. Sell-side analysts predict that Brunswick will post 7.5 EPS for the current year.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 over the last quarter. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brunswick

Several large investors have recently bought and sold shares of the business. Valley National Advisers Inc. acquired a new stake in Brunswick in the third quarter worth $25,000. Principal Securities Inc. bought a new stake in shares of Brunswick during the fourth quarter worth $28,000. Johnson Financial Group Inc. bought a new stake in shares of Brunswick during the fourth quarter worth $30,000. Rise Advisors LLC increased its position in shares of Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after acquiring an additional 232 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Brunswick by 347.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after acquiring an additional 337 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.