Morgan Stanley Lowers Brunswick (NYSE:BC) Price Target to $64.00

Brunswick (NYSE:BC) had its target price lowered by Morgan Stanley from $78.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

BC has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Stifel Nicolaus decreased their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Citigroup lifted their target price on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Truist Financial lowered their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Brunswick Trading Up 2.5 %

BC stock opened at $69.11 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. Brunswick has a 1-year low of $62.64 and a 1-year high of $96.65. The business has a 50 day simple moving average of $72.29 and a two-hundred day simple moving average of $76.91. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 17.19 and a beta of 1.54.

Insider Activity

In related news, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the transaction, the director now owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Oak Thistle LLC purchased a new position in Brunswick in the fourth quarter worth $368,000. Sei Investments Co. boosted its holdings in Brunswick by 7.6% in the second quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock worth $16,087,000 after acquiring an additional 15,602 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Brunswick by 20.8% during the second quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock worth $2,925,000 after acquiring an additional 6,922 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of Brunswick by 47.5% during the third quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock valued at $20,128,000 after acquiring an additional 77,340 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after purchasing an additional 102,780 shares during the last quarter. Hedge funds and other 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.