Brunswick (NYSE:BC) Given New $86.00 Price Target at Morgan Stanley

Brunswick (NYSE:BC) had its price target reduced by Morgan Stanley from $91.00 to $86.00 in a report released on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on the company. Truist Financial cut their price target on Brunswick from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, February 2nd. Raymond James lowered Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. BNP Paribas reissued a neutral rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Stifel Nicolaus boosted their price target on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a report on Wednesday, January 17th. Finally, Roth Mkm reissued a buy rating and set a $94.00 price target on shares of Brunswick in a report on Thursday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $92.83.

Brunswick Stock Performance

Shares of BC opened at $81.05 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.59. Brunswick has a one year low of $66.47 and a one year high of $99.68. The firm has a market capitalization of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. The business has a fifty day moving average of $89.13 and a 200 day moving average of $84.77.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $2.57 EPS. The business’s revenue was down 21.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.42 per share. This is a boost from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, February 23rd. Brunswick’s payout ratio is presently 31.23%.

Insiders Place Their Bets

In other Brunswick news, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the sale, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John G. Buelow sold 2,426 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Foulkes sold 35,000 shares of the company’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 value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock valued at $4,574,199 over the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Valley National Advisers Inc. bought a new position in Brunswick in the third quarter worth approximately $25,000. Principal Securities Inc. bought a new position in Brunswick in the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. bought a new position in Brunswick in the fourth quarter worth approximately $30,000. Rise Advisors LLC grew its stake in Brunswick by 249.5% in the first 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. Finally, SRS Capital Advisors Inc. grew its stake in Brunswick by 347.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after purchasing an additional 337 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.