Citigroup Cuts Brunswick (NYSE:BC) Price Target to $88.00

Brunswick (NYSE:BC) had its price target cut by Citigroup from $100.00 to $88.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Roth Mkm reissued a buy rating and set a $94.00 price objective on shares of Brunswick in a research report on Thursday, April 25th. DA Davidson reaffirmed a neutral rating and issued a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Benchmark initiated coverage on Brunswick in a report on Wednesday, May 22nd. They issued a buy rating and a $100.00 price target for the company. BNP Paribas reaffirmed a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, Truist Financial cut their price target on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a report on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $90.46.

Brunswick Price Performance

NYSE BC opened at $76.11 on Monday. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a market capitalization of $5.14 billion, a PE ratio of 14.15 and a beta of 1.52. The stock has a 50-day simple moving average of $76.95 and a 200 day simple moving average of $84.36.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $2.57 EPS. Brunswick’s revenue for the quarter was down 21.7% on a year-over-year basis. Research analysts anticipate that Brunswick will post 7.39 EPS for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Activity

In other news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 filing with the SEC, which is available at the SEC website. In related news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Nancy E. Cooper sold 357 shares of the stock in a transaction that occurred 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 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 Investors Weigh In On Brunswick

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Brunswick by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after acquiring an additional 160,531 shares during the last quarter. American Century Companies Inc. grew its position in Brunswick by 0.5% during the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock worth $155,794,000 after acquiring an additional 9,465 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Brunswick by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after acquiring an additional 47,053 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Brunswick during the 1st quarter worth approximately $124,840,000. Finally, Victory Capital Management Inc. boosted its position in Brunswick by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock valued at $110,712,000 after buying an additional 278,082 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Company Profile

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.