Zacks Investment Research Downgrades Brunswick (BC) to Sell

Brunswick (NYSE:BC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “

Several other equities research analysts have also recently weighed in on the stock. Longbow Research set a $68.00 price target on shares of Brunswick and gave the company a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upgraded shares of Brunswick from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $67.00 in a report on Monday, February 25th. TheStreet upgraded shares of Brunswick from a “c” rating to a “b-” rating in a report on Thursday, January 31st. Northcoast Research restated a “buy” rating on shares of Brunswick in a report on Friday, April 26th. Finally, ValuEngine lowered shares of Brunswick from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $69.64.



BC traded down $0.70 during trading on Wednesday, hitting $46.96. 1,085,276 shares of the stock traded hands, compared to its average volume of 1,001,771. The stock has a market capitalization of $4.15 billion, a P/E ratio of 9.84, a PEG ratio of 0.96 and a beta of 1.63. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 0.87. Brunswick has a 12-month low of $41.92 and a 12-month high of $69.82.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.99 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.99. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brunswick had a net margin of 2.99% and a return on equity of 27.01%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. Sell-side analysts expect that Brunswick will post 4.89 EPS for the current fiscal year.

In related news, VP Daniel J. Tanner sold 3,373 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $53.28, for a total value of $179,713.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Rehmann Capital Advisory Group grew its position in Brunswick by 25.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock valued at $137,000 after purchasing an additional 556 shares during the last quarter. Cerebellum GP LLC grew its position in Brunswick by 9.3% during the 1st quarter. Cerebellum GP LLC now owns 6,137 shares of the company’s stock valued at $309,000 after purchasing an additional 522 shares during the last quarter. Nordea Investment Management AB grew its position in Brunswick by 0.9% during the 1st quarter. Nordea Investment Management AB now owns 74,243 shares of the company’s stock valued at $3,736,000 after purchasing an additional 694 shares during the last quarter. FMR LLC grew its position in Brunswick by 45.0% during the 1st quarter. FMR LLC now owns 3,012,240 shares of the company’s stock valued at $151,605,000 after purchasing an additional 934,679 shares during the last quarter. Finally, Naya Capital Management UK Ltd. grew its position in Brunswick by 13.1% during the 1st quarter. Naya Capital Management UK Ltd. now owns 1,474,851 shares of the company’s stock valued at $74,229,000 after purchasing an additional 170,880 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

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, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

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