Brunswick (NYSE:BC) PT Raised to $101.00

Brunswick (NYSE:BC) had its target price hoisted by equities research analysts at Citigroup from $92.00 to $101.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 19.48% from the company’s previous close.

A number of other brokerages have also weighed in on BC. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, July 29th. Stifel Nicolaus reduced their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price objective on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 price target (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Finally, Benchmark reissued a “buy” rating and set a $100.00 price target on shares of Brunswick in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Price Performance

Shares of NYSE BC opened at $84.53 on Friday. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The company has a market cap of $5.71 billion, a PE ratio of 15.71 and a beta of 1.51. The business has a 50-day simple moving average of $78.41 and a two-hundred day simple moving average of $80.58.

Brunswick (NYSE:BC) last issued its quarterly 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 net margin of 5.92% and a return on equity of 23.46%. The company 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 posted $2.35 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, equities analysts expect that Brunswick will post 5.26 EPS for the current fiscal year.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now directly owns 23,877 shares in the company, valued at approximately $1,942,155.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brunswick

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Brunswick in the second quarter valued at approximately $831,000. Truist Financial Corp lifted its stake in Brunswick by 9.2% in the 2nd quarter. Truist Financial Corp now owns 9,244 shares of the company’s stock valued at $673,000 after buying an additional 779 shares in the last quarter. Algert Global LLC purchased a new stake in Brunswick during the 2nd quarter worth about $498,000. Maverick Capital Ltd. lifted its stake in shares of Brunswick by 319.4% during the second quarter. Maverick Capital Ltd. now owns 11,732 shares of the company’s stock valued at $854,000 after buying an additional 8,935 shares during the period. Finally, Divisar Capital Management LLC boosted its holdings in shares of Brunswick by 1.3% during the second quarter. Divisar Capital Management LLC now owns 264,893 shares of the company’s stock worth $19,276,000 after purchasing an additional 3,275 shares during the last quarter. Hedge funds and other institutional investors 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.