Citigroup Lowers Brunswick (NYSE:BC) Price Target to $106.00

Brunswick (NYSE:BCGet Rating) had its price target cut by stock analysts at Citigroup from $123.00 to $106.00 in a note issued to investors on Tuesday, April 19th, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 27.65% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on BC. Truist Financial reduced their price objective on Brunswick from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Raymond James raised their price objective on shares of Brunswick from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, January 28th. StockNews.com began coverage on shares of Brunswick in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded Brunswick from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $112.86.

Shares of BC stock traded up $3.05 during trading hours on Tuesday, reaching $83.04. 1,052,648 shares of the stock were exchanged, compared to its average volume of 937,345. The business’s fifty day moving average is $83.53 and its two-hundred day moving average is $91.92. The firm has a market capitalization of $6.36 billion, a P/E ratio of 10.50 and a beta of 1.56. Brunswick has a 12-month low of $72.71 and a 12-month high of $117.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.10 and a quick ratio of 1.09.

Brunswick (NYSE:BCGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.20. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Brunswick had a return on equity of 35.51% and a net margin of 9.79%. Brunswick’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $2.24 earnings per share. As a group, equities research analysts predict that Brunswick will post 10.15 earnings per share for the current fiscal year.

In other Brunswick news, VP Christopher F. Dekker sold 7,854 shares of the stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $95.74, for a total transaction of $751,941.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan M. Gwillim sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $97.09, for a total transaction of $97,090.00. The disclosure for this sale can be found here. Insiders sold a total of 10,894 shares of company stock valued at $1,024,186 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC boosted its holdings in shares of Brunswick by 3.1% during the 1st quarter. Baker Ellis Asset Management LLC now owns 53,656 shares of the company’s stock worth $4,340,000 after buying an additional 1,633 shares during the period. Victory Capital Management Inc. lifted its holdings in Brunswick by 8.0% during the 1st quarter. Victory Capital Management Inc. now owns 478,516 shares of the company’s stock worth $38,030,000 after purchasing an additional 35,446 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Brunswick by 159.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,870 shares of the company’s stock valued at $717,000 after purchasing an additional 5,450 shares during the period. Envestnet Asset Management Inc. grew its holdings in Brunswick by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 96,546 shares of the company’s stock valued at $7,810,000 after buying an additional 2,388 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Brunswick during the first quarter worth $52,000. Institutional investors own 92.75% of the company’s stock.

Brunswick Company Profile (Get Rating)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

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