Brunswick (NYSE:BC) Stock Rating Reaffirmed by Benchmark

Brunswick (NYSE:BC)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research report issued on Friday, Benzinga reports. They currently have a $100.00 price objective on the stock. Benchmark’s price target would suggest a potential upside of 26.57% from the company’s current price.

Other analysts also recently issued research reports about the stock. BNP Paribas reissued a “neutral” rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price target (down from $115.00) on shares of Brunswick in a research report on Friday. Morgan Stanley lowered their price target on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Truist Financial lowered their price target on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and an average target price of $88.57.

Brunswick Stock Performance

Shares of NYSE:BC traded down $0.01 during midday trading on Friday, hitting $79.01. The stock had a trading volume of 517,605 shares, compared to its average volume of 762,036. The company has a market capitalization of $5.34 billion, a PE ratio of 14.69 and a beta of 1.52. The stock has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $83.20. 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 has a 1 year low of $66.47 and a 1 year high of $99.68.

Brunswick (NYSE:BC) last issued 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. As a group, equities analysts predict that Brunswick will post 7.15 earnings per share for the current fiscal year.

Insider Activity at Brunswick

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

Institutional Trading of Brunswick

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Brunswick in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new position in shares of Brunswick in the fourth quarter worth approximately $30,000. Rise Advisors LLC increased its position in shares of Brunswick by 249.5% in 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. increased its position in shares of Brunswick by 347.4% in 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 increased its position 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 worth $42,000 after acquiring an additional 437 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

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.