Truist Financial Lowers Brunswick (NYSE:BC) Price Target to $85.00

Brunswick (NYSE:BC) had its price target lowered by stock analysts at Truist Financial from $90.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 28.24% from the stock’s current price.

A number of other equities analysts also recently weighed in on BC. Citigroup upped their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. B. Riley cut Brunswick from a “buy” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Brunswick Stock Up 0.1 %

Shares of NYSE BC traded up $0.04 during mid-day trading on Tuesday, reaching $66.28. The company had a trading volume of 80,992 shares, compared to its average volume of 565,972. The stock has a fifty day moving average of $75.80 and a two-hundred day moving average of $77.32. Brunswick has a 12-month low of $63.08 and a 12-month high of $96.65. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 16.49 and a beta of 1.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Insider Transactions at Brunswick

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,940 shares of company stock worth $2,321,176. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

A number of hedge funds have recently made changes to their positions in the company. Quest Partners LLC increased its holdings in shares of Brunswick by 99,353.8% during the second quarter. Quest Partners LLC now owns 12,929 shares of the company’s stock worth $941,000 after buying an additional 12,916 shares in the last quarter. American Century Companies Inc. raised its position in Brunswick by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock valued at $106,337,000 after purchasing an additional 57,605 shares during the last quarter. Federated Hermes Inc. raised its position in Brunswick by 1.7% in the 2nd quarter. Federated Hermes Inc. now owns 838,996 shares of the company’s stock valued at $61,054,000 after purchasing an additional 14,144 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Brunswick by 4.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company’s stock worth $12,164,000 after acquiring an additional 6,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in 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 acquiring an additional 58,583 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.