Brunswick (NYSE:BC) Given New $60.00 Price Target at DA Davidson

Brunswick (NYSE:BC) had its price target dropped by research analysts at DA Davidson from $80.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential downside of 13.01% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley cut their price objective on Brunswick from $78.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Stifel Nicolaus cut their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Brunswick in a report on Friday, October 25th. Finally, Citigroup lifted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.46.

Brunswick Stock Down 0.4 %

Shares of NYSE:BC traded down $0.27 on Wednesday, reaching $68.98. The company had a trading volume of 94,329 shares, compared to its average volume of 554,066. Brunswick has a twelve month low of $62.64 and a twelve month high of $96.65. The stock has a 50-day moving average price of $72.29 and a 200 day moving average price of $76.91. The stock has a market capitalization of $4.55 billion, a P/E ratio of 17.13 and a beta of 1.54. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Insider Activity at Brunswick

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the sale, the director now owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 19.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 owns 251,094 shares in the company, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brunswick

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in Brunswick by 0.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,731 shares of the company’s stock valued at $2,241,000 after buying an additional 145 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Brunswick by 2.8% during the 3rd quarter. Inspire Investing LLC now owns 5,545 shares of the company’s stock worth $465,000 after purchasing an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Brunswick by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company’s stock worth $390,000 after purchasing an additional 174 shares in the last quarter. CWM LLC grew its holdings in shares of Brunswick by 21.6% during the 3rd quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $111,000 after purchasing an additional 235 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Brunswick by 3.0% during the 3rd quarter. US Bancorp DE now owns 8,214 shares of the company’s stock worth $689,000 after purchasing an additional 241 shares in the last quarter. 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.