Brunswick (NYSE:BC) Given New $85.00 Price Target at Citigroup

Brunswick (NYSE:BC) had its target price lowered by Citigroup from $92.00 to $85.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

BC has been the topic of several other research reports. Stifel Nicolaus cut their price target on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. DA Davidson reduced their price target on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $95.00 to $88.00 in a research note on Tuesday, November 26th. Truist Financial dropped their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Roth Mkm decreased their target price on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.54.

Brunswick Stock Performance

Shares of BC stock opened at $68.62 on Tuesday. The stock’s 50-day moving average is $71.11 and its two-hundred day moving average is $76.76. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. Brunswick has a 1 year low of $62.64 and a 1 year high of $96.65. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 17.07 and a beta of 1.54.

Insider Activity at Brunswick

In other news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oak Thistle LLC purchased a new position in shares of Brunswick in the fourth quarter valued at $368,000. Bank of Montreal Can grew its stake in Brunswick by 20.8% in the 2nd quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock valued at $2,925,000 after acquiring an additional 6,922 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Brunswick by 47.5% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock valued at $20,128,000 after acquiring an additional 77,340 shares in the last quarter. JPMorgan Chase & Co. raised its position in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after acquiring an additional 102,780 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company’s stock valued at $9,907,000 after purchasing an additional 52,024 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

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.