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

Brunswick (NYSE:BC) had its price target cut by analysts at B. Riley from $108.00 to $97.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 36.62% from the company’s current price.

A number of other research firms have also recently weighed in on BC. DA Davidson reissued a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Roth Mkm restated a “buy” rating and set a $94.00 target price on shares of Brunswick in a research report on Thursday, April 25th. Truist Financial lowered their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley lowered their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Benchmark assumed coverage on shares of Brunswick in a research report on Wednesday, May 22nd. They set a “buy” rating and a $100.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.46.

Brunswick Stock Up 2.1 %

NYSE:BC traded up $1.46 during mid-day trading on Wednesday, hitting $71.00. The stock had a trading volume of 463,176 shares, compared to its average volume of 726,078. The stock has a 50-day simple moving average of $77.23 and a two-hundred day simple moving average of $84.51. The company has a market capitalization of $4.80 billion, a PE ratio of 13.17 and a beta of 1.52. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $2.57 EPS. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, equities research analysts anticipate that Brunswick will post 7.39 EPS for the current year.

Insider Transactions at Brunswick

In related news, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Brunswick in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new position in shares of Brunswick during the 4th quarter worth about $30,000. Rise Advisors LLC lifted its holdings in shares of Brunswick by 249.5% during the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after acquiring an additional 232 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Brunswick by 347.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after acquiring an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after acquiring an additional 437 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.