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

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

Other research analysts also recently issued reports about the company. DA Davidson restated a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Roth Mkm restated a “buy” rating and set a $94.00 price objective on shares of Brunswick in a report on Thursday. Truist Financial cut 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. B. Riley upgraded Brunswick from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Finally, Stifel Nicolaus lifted their price target on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and an average price target of $92.83.

Brunswick Stock Performance

BC traded up $1.29 during midday trading on Friday, reaching $81.29. The company had a trading volume of 253,493 shares, compared to its average volume of 748,942. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $89.29 and a two-hundred day moving average of $84.80. The company has a market cap of $5.59 billion, a P/E ratio of 13.64 and a beta of 1.56. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in Brunswick by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company’s stock worth $1,911,000 after purchasing an additional 500 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Brunswick by 47.0% during the first quarter. Valley National Advisers Inc. now owns 1,120 shares of the company’s stock worth $108,000 after purchasing an additional 358 shares in the last quarter. State of Michigan Retirement System lifted its stake in Brunswick by 2.4% during the first quarter. State of Michigan Retirement System now owns 16,870 shares of the company’s stock worth $1,628,000 after purchasing an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares in the last quarter. Finally, Sendero Wealth Management LLC boosted its holdings in Brunswick by 14.0% in the first quarter. Sendero Wealth Management LLC now owns 34,453 shares of the company’s stock valued at $3,325,000 after purchasing an additional 4,242 shares during the period. 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.