Brunswick (NYSE:BC) Price Target Cut to $90.00 by Analysts at Truist Financial

Brunswick (NYSE:BC) had its target price reduced by Truist Financial from $95.00 to $90.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

BC has been the subject of a number of other research reports. BNP Paribas reaffirmed a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Roth Mkm reaffirmed a buy rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, April 25th. Morgan Stanley dropped their price objective on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Benchmark initiated coverage on Brunswick in a report on Wednesday, May 22nd. They set a buy rating and a $100.00 target price for the company. Finally, DA Davidson reiterated a neutral rating and set a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $90.46.

Brunswick Stock Performance

NYSE:BC opened at $76.11 on Monday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 14.15 and a beta of 1.52. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The firm’s fifty day moving average price is $76.95 and its 200 day moving average price is $84.36. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $2.57 earnings per share. Brunswick’s quarterly revenue was down 21.7% on a year-over-year basis. On average, sell-side analysts expect that Brunswick will post 7.39 EPS for the current year.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, May 13th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s dividend payout ratio is presently 31.23%.

Insiders Place Their Bets

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value 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. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in Brunswick during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new position in Brunswick during the 4th quarter valued at about $30,000. Rise Advisors LLC grew its stake in Brunswick by 249.5% during the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 232 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Brunswick by 347.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after acquiring an additional 337 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Company Profile

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.