Longbow Research Lowers Brunswick (NYSE:BC) to Neutral

Brunswick (NYSE:BC) was downgraded by equities research analysts at Longbow Research from a “buy” rating to a “neutral” rating in a report released on Thursday, Briefing.com Automated Import reports.

Several other brokerages have also recently issued reports on BC. KeyCorp lifted their target price on Brunswick from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. ValuEngine upgraded Brunswick from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Northcoast Research lowered Brunswick from a “buy” rating to a “neutral” rating and set a $45.31 price target for the company. in a research report on Thursday, June 27th. B. Riley set a $74.00 price target on Brunswick and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research upgraded Brunswick from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $58.74.

Shares of BC stock opened at $55.44 on Thursday. Brunswick has a 12-month low of $41.02 and a 12-month high of $62.32. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average price is $51.03 and its 200-day moving average price is $48.32. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.27 and a beta of 1.72.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. As a group, research analysts predict that Brunswick will post 4.23 EPS for the current fiscal year.

In related news, CFO William Metzger sold 15,517 shares of Brunswick stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $53.77, for a total value of $834,349.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Several large investors have recently made changes to their positions in BC. Rehmann Capital Advisory Group boosted its position in shares of Brunswick by 25.7% during the first quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock valued at $137,000 after buying an additional 556 shares during the period. Cerebellum GP LLC boosted its position in shares of Brunswick by 9.3% during the first quarter. Cerebellum GP LLC now owns 6,137 shares of the company’s stock valued at $309,000 after buying an additional 522 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Brunswick by 0.9% in the first 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 period. FMR LLC boosted its holdings in shares of Brunswick by 45.0% in the first 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 period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Brunswick in the second quarter valued at approximately $2,175,000. Institutional investors and hedge funds own 96.47% 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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Analyst Recommendations for Brunswick (NYSE:BC)

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