Brunswick (NYSE:BC) Given New $60.00 Price Target at DA Davidson

Brunswick (NYSE:BC) had its target price lowered by investment analysts at DA Davidson from $80.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target points to a potential downside of 13.01% from the company’s current price.

BC has been the topic of a number of other research reports. Morgan Stanley dropped their target price on Brunswick from $78.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Truist Financial dropped their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citigroup boosted their target price on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Benchmark restated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.46.

Brunswick Stock Down 0.4 %

Shares of BC traded down $0.27 during midday trading on Wednesday, hitting $68.98. The company had a trading volume of 94,329 shares, compared to its average volume of 554,066. The company’s 50-day simple moving average is $72.29 and its 200-day simple moving average is $76.91. The firm has a market capitalization of $4.55 billion, a P/E ratio of 17.13 and a beta of 1.54. Brunswick has a 1 year low of $62.64 and a 1 year high of $96.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Insider Buying and Selling at Brunswick

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the sale, the director now owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. The trade was a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,940 shares of company stock valued at $2,321,176 in the last quarter. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after buying an additional 452,116 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Brunswick by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after purchasing an additional 102,780 shares in the last quarter. Victory Capital Management Inc. grew its stake in Brunswick by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after purchasing an additional 168,384 shares in the last quarter. Principal Financial Group Inc. grew its stake in Brunswick by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after purchasing an additional 28,781 shares in the last quarter. Finally, Copeland Capital Management LLC grew its stake in Brunswick by 11.9% in the third quarter. Copeland Capital Management LLC now owns 949,094 shares of the company’s stock valued at $79,553,000 after purchasing an additional 101,123 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.