Brunswick’s (BC) “Buy” Rating Reaffirmed at Benchmark

Brunswick (NYSE:BC)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They presently have a $100.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 23.82% from the stock’s current price.

A number of other brokerages have also weighed in on BC. JPMorgan Chase & Co. reduced 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. Robert W. Baird reduced their price objective on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price objective (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Stifel Nicolaus reduced their price objective on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, Roth Mkm restated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.23.

Brunswick Price Performance

Brunswick stock opened at $80.76 on Friday. The firm has a market cap of $5.46 billion, a PE ratio of 15.01 and a beta of 1.51. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $80.28 and its two-hundred day moving average is $79.09.

Brunswick (NYSE:BC) last released its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (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 analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. Brunswick’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. On average, research analysts expect that Brunswick will post 5.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional 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 purchasing an additional 160,531 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Brunswick by 2.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock worth $191,964,000 after purchasing an additional 58,583 shares during the last quarter. Baillie Gifford & Co. grew its position in Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Brunswick by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after purchasing an additional 144,416 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Brunswick by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other 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.