Brunswick (NYSE:BC) had its target price hoisted by research analysts at Wedbush from $70.00 to $77.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 20.60% from the company’s previous close. Wedbush also issued estimates for Brunswick’s Q3 2018 earnings at $1.19 EPS, FY2018 earnings at $4.63 EPS and FY2019 earnings at $5.19 EPS. The analysts noted that the move was a valuation call.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. ValuEngine upgraded Brunswick from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Jefferies Financial Group reiterated a “hold” rating and set a $60.00 price objective on shares of Brunswick in a report on Friday, July 27th. KeyCorp increased their price objective on Brunswick from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Imperial Capital increased their price objective on Brunswick from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, July 9th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.80.
Shares of Brunswick stock opened at $63.85 on Monday. Brunswick has a 1 year low of $48.04 and a 1 year high of $69.60. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.71. The company has a quick ratio of 0.96, a current ratio of 1.70 and a debt-to-equity ratio of 0.29.
In related news, insider William Metzger sold 13,530 shares of the stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $67.42, for a total transaction of $912,192.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Schwabero sold 16,262 shares of the stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $63.54, for a total value of $1,033,287.48. The disclosure for this sale can be found here. Insiders have sold 45,029 shares of company stock valued at $2,973,216 over the last three months. Insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Investment Advisory LLC acquired a new position in Brunswick during the second quarter valued at approximately $830,000. Paloma Partners Management Co acquired a new position in Brunswick during the second quarter valued at approximately $723,000. Macquarie Group Ltd. acquired a new position in Brunswick during the second quarter valued at approximately $277,000. Cubist Systematic Strategies LLC boosted its position in Brunswick by 78.0% during the second quarter. Cubist Systematic Strategies LLC now owns 34,525 shares of the company’s stock valued at $2,226,000 after purchasing an additional 15,131 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of Brunswick by 244.6% in the second quarter. Point72 Hong Kong Ltd now owns 3,405 shares of the company’s stock valued at $220,000 after buying an additional 2,417 shares during the last quarter. 95.87% of the stock is owned by hedge funds and other institutional investors.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
Further Reading: Relative Strength Index
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