Brunswick Co. (NYSE:BC – Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,600,000 shares, a drop of 16.7% from the July 15th total of 5,520,000 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average trading volume of 817,800 shares, the days-to-cover ratio is presently 5.6 days.
Brunswick Stock Up 0.3 %
BC stock opened at $76.90 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The firm has a market cap of $5.20 billion, a PE ratio of 14.29 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 fifty day simple moving average of $75.35 and a 200 day simple moving average of $82.17.
Brunswick (NYSE:BC – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 earnings per share. Sell-side analysts anticipate that Brunswick will post 5.59 EPS for the current fiscal year.
Brunswick Dividend Announcement
Analyst Ratings Changes
Several equities analysts have recently issued reports on BC shares. Truist Financial lowered their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. B. Riley dropped their price target on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus cut their target price on Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Brunswick in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Brunswick has an average rating of “Moderate Buy” and an average target price of $88.21.
Insider Activity at Brunswick
In related news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the sale, the director now directly owns 23,877 shares in the company, valued at $1,942,155.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.81% of the stock is owned by insiders.
Institutional Investors Weigh In On Brunswick
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. bought a new stake in shares of Brunswick during the first quarter valued at approximately $124,840,000. Norges Bank bought a new stake in Brunswick in the 4th quarter valued at $65,105,000. Lord Abbett & CO. LLC bought a new stake in Brunswick in the 1st quarter valued at $38,655,000. Jennison Associates LLC raised its stake in shares of Brunswick by 71.0% in the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock valued at $78,019,000 after buying an additional 334,851 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Brunswick by 32.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after acquiring an additional 278,082 shares during the period. Institutional investors and hedge funds 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.
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