Brunswick (NYSE:BC) Given New $64.00 Price Target at Morgan Stanley

Brunswick (NYSE:BC) had its target price lowered by investment analysts at Morgan Stanley from $78.00 to $64.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 7.19% from the stock’s current price.

Other analysts also recently issued reports about the company. Citigroup increased their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Truist Financial decreased their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Stifel Nicolaus dropped their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Brunswick Stock Up 2.2 %

Brunswick stock traded up $1.51 during midday trading on Tuesday, hitting $68.96. 76,677 shares of the stock were exchanged, compared to its average volume of 551,451. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 17.15 and a beta of 1.54. Brunswick has a 52-week low of $62.64 and a 52-week high of $96.65. The business’s 50-day moving average price is $72.51 and its 200-day moving average price is $76.92.

Insider Activity

In related news, 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 sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the transaction, the director now directly owns 19,218 shares in the company, valued at approximately $1,540,130.52. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BC. Envestnet Asset Management Inc. boosted its stake in Brunswick by 4.3% during the second quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company’s stock valued at $12,164,000 after buying an additional 6,853 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Brunswick by 13.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,257 shares of the company’s stock valued at $674,000 after purchasing an additional 1,073 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Brunswick by 7.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,233 shares of the company’s stock worth $441,000 after purchasing an additional 414 shares during the period. Hsbc Holdings PLC increased its position in shares of Brunswick by 181.7% during the 2nd quarter. Hsbc Holdings PLC now owns 8,914 shares of the company’s stock valued at $645,000 after purchasing an additional 5,750 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Brunswick by 7.6% during the 2nd quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock valued at $16,087,000 after buying an additional 15,602 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.