Brunswick’s (BC) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Brunswick (NYSE:BC) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $94.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on the company. B. Riley raised Brunswick from a neutral rating to a buy rating and increased their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Truist Financial decreased their price target on shares of Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a research report on Friday, February 2nd. DA Davidson restated a neutral rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. BNP Paribas reiterated a neutral rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $92.08.

Brunswick Stock Performance

Brunswick stock traded up $1.34 on Thursday, reaching $81.34. 20,083 shares of the stock were exchanged, compared to its average volume of 746,324. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a fifty day moving average price of $89.29 and a two-hundred day moving average price of $84.80. The stock has a market cap of $5.60 billion, a PE ratio of 13.44 and a beta of 1.56.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. Sell-side analysts anticipate that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is presently 28.24%.

Insider Activity

In other news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,696 shares of company stock valued at $4,574,199. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

A number of hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Brunswick by 140.4% during the 3rd quarter. FMR LLC now owns 3,435,357 shares of the company’s stock worth $271,393,000 after buying an additional 2,006,578 shares during the period. Norges Bank acquired a new stake in Brunswick in the 4th quarter valued at approximately $65,105,000. Victory Capital Management Inc. lifted its stake in Brunswick by 127.6% in the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock valued at $68,432,000 after acquiring an additional 485,588 shares in the last quarter. Jennison Associates LLC boosted its position in Brunswick by 71.0% during the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after acquiring an additional 334,851 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Brunswick by 110.2% in the third quarter. Invesco Ltd. now owns 357,833 shares of the company’s stock valued at $28,269,000 after purchasing an additional 187,572 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

About Brunswick

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.