Brunswick’s (BC) Buy Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Brunswick (NYSE:BC) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $100.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on BC. Citigroup cut their target price on Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research report on Monday, July 8th. Morgan Stanley cut their target price on Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Stifel Nicolaus cut their target price on Brunswick from $97.00 to $95.00 and set a buy rating for the company in a research report on Friday, July 12th. Robert W. Baird cut their target price on Brunswick from $95.00 to $93.00 and set an outperform rating for the company in a research report on Friday. Finally, Truist Financial cut their target price on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $88.21.

Brunswick Stock Performance

Shares of BC stock opened at $81.67 on Friday. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 15.18 and a beta of 1.52. The business has a 50 day simple moving average of $76.11 and a 200 day simple moving average of $83.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $2.35 earnings per share. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that Brunswick will post 6.13 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be given a $0.42 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Transactions at Brunswick

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

Institutional Trading of Brunswick

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Brunswick during the fourth quarter worth $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Brunswick during the fourth quarter worth $30,000. Rise Advisors LLC raised its holdings 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. SRS Capital Advisors Inc. raised its holdings 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. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Brunswick by 43,700.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after acquiring an additional 437 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.