Brunswick Corporation (BC) Upgraded to Hold by Zacks Investment Research
Brunswick Corporation (NYSE:BC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
BC has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 target price on shares of Brunswick Corporation in a research report on Friday, July 14th. Stifel Nicolaus boosted their target price on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and issued a $72.00 target price on shares of Brunswick Corporation in a research report on Thursday, July 13th. BidaskClub raised shares of Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Northcoast Research downgraded shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.54.
Shares of Brunswick Corporation (NYSE:BC) traded up 1.41% during trading on Wednesday, hitting $59.00. 998,948 shares of the stock were exchanged. The stock’s 50 day moving average is $54.81 and its 200-day moving average is $57.26. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 18.72 and a beta of 1.85. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Brunswick Corporation will post $4.04 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP boosted its holdings in shares of Brunswick Corporation by 28.6% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 225,000 shares of the company’s stock worth $14,114,000 after buying an additional 50,000 shares during the period. Colony Group LLC boosted its holdings in shares of Brunswick Corporation by 2.9% during the 2nd quarter. Colony Group LLC now owns 23,450 shares of the company’s stock worth $1,471,000 after buying an additional 650 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Brunswick Corporation by 57.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,425 shares of the company’s stock worth $2,598,000 after buying an additional 15,034 shares during the period. Castleark Management LLC boosted its holdings in shares of Brunswick Corporation by 33.0% during the 2nd quarter. Castleark Management LLC now owns 71,655 shares of the company’s stock worth $4,495,000 after buying an additional 17,780 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of Brunswick Corporation during the 2nd quarter worth $240,000. 93.99% of the stock is owned by institutional investors and hedge funds.
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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