Brunswick Corporation (BC) Stock Rating Reaffirmed by Stifel Nicolaus
Brunswick Corporation (NYSE:BC)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a report released on Thursday. They presently have a $68.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 27.56% from the company’s current price.
Several other research firms have also recently issued reports on BC. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 target price on shares of Brunswick Corporation in a research note on Sunday, June 11th. BidaskClub raised Brunswick Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, June 29th. Northcoast Research cut Brunswick Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “buy” rating and issued a $72.00 target price on shares of Brunswick Corporation in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Brunswick Corporation has a consensus rating of “Buy” and a consensus target price of $65.77.
Shares of Brunswick Corporation (BC) traded down 2.20% during midday trading on Thursday, hitting $53.31. The company had a trading volume of 1,934,793 shares. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82. The firm’s 50 day moving average is $54.91 and its 200 day moving average is $58.26. The company has a market capitalization of $4.73 billion, a P/E ratio of 16.91 and a beta of 1.82.
Brunswick Corporation (NYSE:BC) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Equities research analysts anticipate that Brunswick Corporation will post $4.05 EPS for the current year.
In other Brunswick Corporation news, Chairman Mark D. Schwabero sold 29,552 shares of Brunswick Corporation stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total transaction of $1,883,644.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark D. Schwabero sold 3,289 shares of Brunswick Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $63.73, for a total value of $209,607.97. Following the sale, the chairman now directly owns 219,799 shares in the company, valued at $14,007,790.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,439 shares of company stock worth $3,258,968. Insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Colony Group LLC boosted its position in shares of Brunswick Corporation by 2.9% in the 2nd quarter. Colony Group LLC now owns 23,450 shares of the company’s stock worth $1,471,000 after purchasing an additional 650 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Brunswick Corporation by 57.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,425 shares of the company’s stock worth $2,598,000 after purchasing an additional 15,034 shares in the last quarter. Castleark Management LLC boosted its position in shares of Brunswick Corporation by 33.0% in the 2nd quarter. Castleark Management LLC now owns 71,655 shares of the company’s stock worth $4,495,000 after purchasing an additional 17,780 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Brunswick Corporation in the 2nd quarter worth approximately $240,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Brunswick Corporation in the 2nd quarter worth approximately $263,000. 94.04% of the stock is currently owned by hedge funds and other institutional investors.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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