Citigroup Boosts Brunswick (NYSE:BC) Price Target to $101.00

Brunswick (NYSE:BC) had its price objective upped by Citigroup from $92.00 to $101.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

BC has been the topic of several other reports. Roth Mkm restated a buy rating and set a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. Robert W. Baird decreased their price target on shares of Brunswick from $95.00 to $93.00 and set an outperform rating for the company in a research note on Friday, July 26th. B. Riley decreased their price target on shares of Brunswick from $108.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Northcoast Research raised shares of Brunswick from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a research note on Monday, July 29th. Finally, 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $89.23.

Brunswick Price Performance

BC opened at $84.53 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The stock’s 50 day simple moving average is $78.41 and its 200 day simple moving average is $80.52. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 15.71 and a beta of 1.51.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, analysts predict that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 1.99%. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the transaction, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Institutional Trading of Brunswick

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC lifted its stake in Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Brunswick by 43,700.0% during the 1st 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 in the last quarter. J.Safra Asset Management Corp increased its stake in Brunswick by 77.1% in the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after acquiring an additional 262 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Brunswick by 291.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock worth $101,000 after acquiring an additional 775 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Brunswick by 2,478.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock worth $102,000 after acquiring an additional 1,016 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

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.