Citigroup Forecasts Strong Price Appreciation for Brunswick (NYSE:BC) Stock

Brunswick (NYSE:BC) had its price target increased by Citigroup from $100.00 to $101.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 23.81% from the company’s previous close.

BC has been the subject of several other research reports. Seaport Research Partners upgraded shares of Brunswick to a “strong-buy” rating in a research report on Monday, December 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research note on Monday, December 29th. Loop Capital started coverage on shares of Brunswick in a report on Monday, December 22nd. They issued a “hold” rating and a $74.00 price objective for the company. Truist Financial raised their price objective on shares of Brunswick from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Brunswick presently has an average rating of “Hold” and a consensus price target of $82.71.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.36 during midday trading on Monday, reaching $81.58. The company’s stock had a trading volume of 388,519 shares, compared to its average volume of 1,069,853. The stock has a market capitalization of $5.31 billion, a P/E ratio of -38.50 and a beta of 1.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.44 and a quick ratio of 0.61. Brunswick has a 12-month low of $41.00 and a 12-month high of $89.61. The firm has a 50 day moving average price of $77.65 and a 200-day moving average price of $68.45.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities analysts predict that Brunswick will post 4.19 earnings per share for the current year.

Hedge Funds Weigh In On Brunswick

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Brunswick by 10.7% in the first quarter. Royal Bank of Canada now owns 149,000 shares of the company’s stock worth $8,024,000 after acquiring an additional 14,395 shares in the last quarter. AQR Capital Management LLC raised its stake in Brunswick by 133.6% in the first quarter. AQR Capital Management LLC now owns 77,326 shares of the company’s stock valued at $4,076,000 after purchasing an additional 44,228 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Brunswick by 142.9% during the first quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company’s stock worth $18,659,000 after purchasing an additional 203,838 shares during the last quarter. United Services Automobile Association bought a new position in Brunswick in the first quarter valued at about $214,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Brunswick by 477.0% during the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock worth $39,000 after buying an additional 601 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.