Zacks Investment Research upgraded shares of Brunswick (NYSE:BC) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. Zacks Investment Research currently has $66.00 price target on the stock.
According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “
BC has been the subject of several other research reports. Wedbush restated an outperform rating and issued a $60.00 target price (up previously from $53.00) on shares of Brunswick in a research note on Thursday, September 12th. They noted that the move was a valuation call. Longbow Research downgraded Brunswick from a buy rating to a neutral rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their target price on Brunswick from $60.00 to $67.00 and gave the stock a buy rating in a research note on Friday, October 25th. Imperial Capital raised their target price on Brunswick from $70.00 to $74.00 and gave the stock an outperform rating in a research note on Wednesday, October 30th. Finally, ValuEngine upgraded Brunswick from a sell rating to a hold rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $62.02.
Shares of BC opened at $58.77 on Thursday. The business has a 50-day moving average of $57.88 and a 200 day moving average of $49.75. Brunswick has a fifty-two week low of $41.02 and a fifty-two week high of $62.23. The firm has a market cap of $4.84 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 1.87.
Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.11. Brunswick had a positive return on equity of 25.96% and a negative net margin of 3.32%. The company had revenue of $976.60 million during the quarter, compared to analyst estimates of $984.32 million. During the same quarter last year, the firm posted $1.28 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts predict that Brunswick will post 4.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 19th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.96 annualized dividend and a yield of 1.63%. This is an increase from Brunswick’s previous quarterly dividend of $0.21. Brunswick’s dividend payout ratio (DPR) is currently 20.13%.
In other news, VP Brenna Preisser sold 1,339 shares of Brunswick stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $59.24, for a total transaction of $79,322.36. Also, CFO William Metzger sold 15,517 shares of Brunswick stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $53.77, for a total value of $834,349.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,967 shares of company stock valued at $1,158,893. 1.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of BC. Cantillon Capital Management LLC bought a new stake in shares of Brunswick during the 2nd quarter valued at about $111,724,000. Van Berkom & Associates Inc. raised its holdings in shares of Brunswick by 4,344.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,033,524 shares of the company’s stock valued at $47,428,000 after buying an additional 1,010,271 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Brunswick during the 2nd quarter valued at about $45,287,000. Engine Capital Management LP purchased a new position in shares of Brunswick during the 2nd quarter valued at about $13,343,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Brunswick by 6.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,218,425 shares of the company’s stock valued at $142,867,000 after buying an additional 198,288 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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