Benchmark Reiterates “Buy” Rating for Brunswick (NYSE:BC)

Brunswick (NYSE:BC)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued on Friday, Benzinga reports. They presently have a $100.00 target price on the stock. Benchmark’s target price suggests a potential upside of 23.35% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BC. JPMorgan Chase & Co. lowered their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird lowered their price objective on Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, July 29th. Truist Financial dropped 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. Finally, Citigroup lifted their target price on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.23.

Brunswick Trading Up 1.4 %

Shares of Brunswick stock traded up $1.11 on Friday, reaching $81.07. 70,003 shares of the company’s stock were exchanged, compared to its average volume of 713,308. The firm’s 50-day moving average is $80.20 and its two-hundred day moving average is $79.27. The company has a market capitalization of $5.48 billion, a P/E ratio of 15.09 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business’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 EPS. Sell-side analysts predict that Brunswick will post 5.26 EPS for the current fiscal year.

Insider Transactions at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the transaction, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Brunswick by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after purchasing an additional 160,531 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Brunswick by 2.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock valued at $191,964,000 after buying an additional 58,583 shares during the period. Baillie Gifford & Co. boosted its holdings in Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after acquiring an additional 1,137,568 shares during the period. Dimensional Fund Advisors LP grew its position in Brunswick by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock valued at $152,577,000 after acquiring an additional 144,416 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Brunswick by 4.1% during the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other 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.