Brunswick (NYSE:BC) PT Lowered to $95.00

Brunswick (NYSE:BC) had its target price reduced by Stifel Nicolaus from $97.00 to $95.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on BC. BNP Paribas reaffirmed a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Citigroup reduced their price target on Brunswick from $100.00 to $88.00 and set a buy rating on the stock in a research report on Monday, July 8th. Roth Mkm reiterated a buy rating and issued a $94.00 price objective on shares of Brunswick in a research report on Thursday, April 25th. B. Riley cut their target price on shares of Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial lowered their price target on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $90.31.

Brunswick Stock Performance

Shares of NYSE BC opened at $77.31 on Friday. The stock’s 50-day moving average is $76.87 and its 200 day moving average is $84.01. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 14.37 and a beta of 1.52. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16.

Brunswick (NYSE:BC) last posted its quarterly 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 25.37% and a net margin of 6.24%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted $2.57 earnings per share. The company’s revenue was down 21.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Brunswick will post 7.26 EPS for the current fiscal year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, May 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s dividend payout ratio is currently 31.23%.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new position in Brunswick in the 1st quarter worth approximately $124,840,000. Norges Bank bought a new stake in shares of Brunswick in the 4th quarter worth $65,105,000. Lord Abbett & CO. LLC purchased a new position in shares of Brunswick in the first quarter worth $38,655,000. Jennison Associates LLC lifted its holdings in shares of Brunswick by 71.0% during the fourth quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock valued at $78,019,000 after purchasing an additional 334,851 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Brunswick by 32.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock valued at $110,712,000 after buying an additional 278,082 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

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.