Brunswick’s (BC) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Brunswick (NYSE:BC) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $100.00 target price on the stock.

BC has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a research report on Wednesday, July 24th. Stifel Nicolaus reduced their price target on shares of Brunswick from $97.00 to $95.00 and set a buy rating on the stock in a research report on Friday, July 12th. BNP Paribas reiterated a neutral rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Citigroup reduced their price target on shares of Brunswick from $100.00 to $88.00 and set a buy rating on the stock in a research report on Monday, July 8th. Finally, B. Riley reduced their price target on shares of Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $88.21.

Brunswick Stock Performance

Shares of NYSE:BC opened at $81.67 on Friday. The company’s 50 day moving average price is $76.11 and its two-hundred day moving average price is $83.00. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The firm has a market cap of $5.52 billion, a PE ratio of 15.18 and a beta of 1.52. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $2.35 EPS. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Brunswick will post 6.13 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction of $28,681.38. Following the completion of the transaction, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. 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

Several large investors have recently modified their holdings of BC. Inspire Advisors LLC raised its stake in Brunswick by 7.9% during the first quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock worth $219,000 after buying an additional 166 shares during the last quarter. Cubic Asset Management LLC raised its stake in Brunswick by 4.4% during the fourth quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock worth $405,000 after buying an additional 175 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Brunswick by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock worth $280,000 after buying an additional 197 shares during the last quarter. Comerica Bank raised its stake in Brunswick by 0.6% during the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after buying an additional 205 shares during the last quarter. Finally, Rise Advisors LLC raised its stake 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 during the last quarter. Institutional investors own 99.34% of the company’s stock.

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.