Brunswick (NYSE:BC) Price Target Cut to $97.00 by Analysts at B. Riley

Brunswick (NYSE:BCFree Report) had its price target reduced by B. Riley from $108.00 to $97.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. DA Davidson restated a neutral rating and set a $77.00 target price on shares of Brunswick in a research report on Friday, March 15th. Morgan Stanley dropped their target price on Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research report on Friday, April 26th. BNP Paribas restated a neutral rating and set a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Truist Financial dropped their target price on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research report on Monday. Finally, Citigroup dropped their target price on Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $90.46.

Check Out Our Latest Analysis on Brunswick

Brunswick Price Performance

NYSE:BC opened at $71.24 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $77.05 and its two-hundred day simple moving average is $84.41. The stock has a market cap of $4.81 billion, a PE ratio of 13.24 and a beta of 1.52. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BCGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, analysts forecast that Brunswick will post 7.39 EPS for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, May 13th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 357 shares of the business’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 completion of the transaction, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was 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 $4,767,458.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brunswick

Large investors have recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in shares of Brunswick in the 4th quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in shares of Brunswick in the 4th quarter valued at $30,000. Rise Advisors LLC increased its position in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Brunswick by 347.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after acquiring an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position 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 valued at $42,000 after acquiring an additional 437 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

About Brunswick

(Get Free Report)

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.

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Analyst Recommendations for Brunswick (NYSE:BC)

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