Brunswick (NYSE:BC) Receives Buy Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Brunswick (NYSE:BC) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $94.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Raymond James downgraded shares of Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Stifel Nicolaus increased their price objective on shares of Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, January 17th. B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and increased their price objective for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. BNP Paribas reiterated a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Truist Financial reduced their price objective on shares of Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Brunswick Price Performance

Brunswick stock opened at $81.08 on Thursday. The firm has a market capitalization of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. The firm has a fifty day moving average of $89.02 and a 200-day moving average of $84.93. The company has a quick ratio of 0.59, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 earnings per share. As a group, analysts predict that Brunswick will post 7.43 EPS for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.42 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Ryan M. Gwillim sold 9,036 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.10, for a total value of $787,035.60. Following the sale, the chief financial officer now owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 in the last quarter. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several large investors have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC increased its stake in Brunswick by 2,478.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after buying an additional 1,016 shares during the period. Louisiana State Employees Retirement System increased its stake in Brunswick by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company’s stock valued at $1,911,000 after buying an additional 500 shares during the period. Valley National Advisers Inc. increased its stake in Brunswick by 47.0% during the 1st quarter. Valley National Advisers Inc. now owns 1,120 shares of the company’s stock valued at $108,000 after buying an additional 358 shares during the period. State of Michigan Retirement System grew its stake in shares of Brunswick by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 16,870 shares of the company’s stock worth $1,628,000 after purchasing an additional 400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds 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.