Robert W. Baird Lowers Brunswick (NYSE:BC) Price Target to $93.00

Brunswick (NYSE:BC) had its price objective cut by Robert W. Baird from $95.00 to $93.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

BC has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Roth Mkm reaffirmed a buy rating and set a $94.00 price objective on shares of Brunswick in a report on Thursday, July 25th. Morgan Stanley cut their price objective on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Jefferies Financial Group reaffirmed a hold rating and set a $70.00 price objective (down from $115.00) on shares of Brunswick in a report on Friday. Finally, B. Riley cut their price target on shares of Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Brunswick has a consensus rating of Moderate Buy and an average target price of $88.21.

Brunswick Stock Performance

Shares of BC stock opened at $81.67 on Friday. The firm has a market capitalization of $5.52 billion, a PE ratio of 15.18 and a beta of 1.52. The firm has a fifty day simple moving average of $76.11 and a two-hundred day simple moving average of $83.00. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 EPS. Analysts forecast that Brunswick will post 6.13 EPS for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were 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 of the company’s stock, valued at $4,767,458.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now directly owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brenna Preisser sold 1,225 shares of the company’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 owns 58,076 shares in the company, valued at $4,767,458.84. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. bought a new stake in shares of Brunswick during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Brunswick during the fourth quarter valued at about $30,000. Rise Advisors LLC increased its position in shares of Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 232 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Brunswick by 347.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after buying an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Brunswick by 43,700.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after buying an additional 437 shares during the period. 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.