Brunswick (NYSE:BC) Price Target Raised to $101.00

Brunswick (NYSE:BC) had its price target increased by Citigroup from $92.00 to $101.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently commented on BC. Robert W. Baird reduced their price objective on shares of Brunswick from $95.00 to $93.00 and set an outperform rating for the company in a research note on Friday, July 26th. Truist Financial decreased their price objective on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research note on Monday, July 8th. Stifel Nicolaus dropped their price objective on Brunswick from $97.00 to $95.00 and set a buy rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group reiterated a hold rating and issued a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Finally, Roth Mkm restated a buy rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $89.23.

Brunswick Price Performance

Shares of BC stock opened at $84.53 on Friday. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. 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 stock has a fifty day simple moving average of $78.41 and a two-hundred day simple moving average of $80.52. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 15.71 and a beta of 1.51.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. On average, analysts predict that Brunswick will post 5.26 EPS for the current fiscal year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

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 stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the sale, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Brunswick

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC boosted its holdings in Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after buying an additional 232 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 during the period. J.Safra Asset Management Corp boosted its stake in shares of Brunswick by 77.1% during the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after acquiring an additional 262 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Brunswick by 291.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock valued at $101,000 after acquiring an additional 775 shares during the period. Finally, Prestige Wealth Management Group LLC increased its stake in shares of Brunswick by 2,478.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors and hedge funds 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.