Brunswick Corporation’s (BC) “Buy” Rating Reiterated at Robert W. Baird
Brunswick Corporation (NYSE:BC)‘s stock had its “buy” rating reaffirmed by Robert W. Baird in a note issued to investors on Friday. They currently have a $68.00 price objective on the stock. Robert W. Baird’s target price would suggest a potential upside of 29.80% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Thursday, June 29th. BMO Capital Markets dropped their price target on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. KeyCorp reiterated an “overweight” rating and set a $62.00 price target on shares of Brunswick Corporation in a research note on Wednesday, August 30th. BidaskClub downgraded Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Forward View set a $60.00 price target on Brunswick Corporation and gave the company a “hold” rating in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $65.93.
Brunswick Corporation (BC) traded down 1.73% during midday trading on Friday, hitting $52.39. The company had a trading volume of 2,035,050 shares. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82. The stock has a 50 day moving average price of $54.70 and a 200-day moving average price of $58.22. The stock has a market capitalization of $4.65 billion, a PE ratio of 16.62 and a beta of 1.82.
Brunswick Corporation (NYSE:BC) last announced its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that Brunswick Corporation will post $4.05 EPS for the current year.
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In other news, insider William Metzger sold 559 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $62.50, for a total value of $34,937.50. Following the sale, the insider now owns 115,673 shares in the company, valued at $7,229,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark D. Schwabero sold 2,738 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the sale, the chairman now owns 219,783 shares in the company, valued at approximately $14,004,572.76. The disclosure for this sale can be found here. Insiders sold 51,439 shares of company stock worth $3,258,968 in the last 90 days. Company insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BC. BlackRock Inc. boosted its stake in shares of Brunswick Corporation by 8,617.9% in the first quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock worth $458,271,000 after buying an additional 7,402,194 shares during the last quarter. AJO LP boosted its stake in shares of Brunswick Corporation by 1,548.4% in the second quarter. AJO LP now owns 1,538,793 shares of the company’s stock worth $96,528,000 after buying an additional 1,445,444 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Brunswick Corporation by 155.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,666,400 shares of the company’s stock worth $101,984,000 after buying an additional 1,014,600 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Brunswick Corporation in the second quarter worth about $42,936,000. Finally, Morgan Stanley boosted its stake in shares of Brunswick Corporation by 97.3% in the first quarter. Morgan Stanley now owns 1,236,123 shares of the company’s stock worth $75,651,000 after buying an additional 609,752 shares during the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.
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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