Brunswick (BC) Upgraded to “Hold” by Zacks Investment Research
Brunswick (NYSE:BC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
A number of other equities research analysts have also recently commented on BC. Stifel Nicolaus reissued a “buy” rating and issued a $65.00 price objective (up from $61.00) on shares of Brunswick in a research note on Wednesday. ValuEngine raised shares of Brunswick from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Brunswick in a research note on Tuesday, October 3rd. B. Riley set a $65.00 price objective on shares of Brunswick and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Imperial Capital lowered their price objective on shares of Brunswick from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $63.42.
Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). Brunswick had a return on equity of 22.71% and a net margin of 5.93%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. analysts forecast that Brunswick will post 3.85 EPS for the current year.
In other Brunswick news, insider John C. Pfeifer sold 3,780 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $54.96, for a total transaction of $207,748.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. boosted its stake in shares of Brunswick by 108.6% during the 3rd quarter. Advisor Group Inc. now owns 6,896 shares of the company’s stock worth $386,000 after purchasing an additional 3,590 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Brunswick by 106.9% during the 3rd quarter. Prudential Financial Inc. now owns 589,175 shares of the company’s stock worth $32,976,000 after purchasing an additional 304,470 shares during the last quarter. Clinton Group Inc. boosted its stake in shares of Brunswick by 50.3% during the 2nd quarter. Clinton Group Inc. now owns 11,983 shares of the company’s stock worth $752,000 after purchasing an additional 4,012 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in shares of Brunswick during the 3rd quarter worth about $3,322,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Brunswick during the 2nd quarter worth about $348,000. 92.61% of the stock is currently owned by institutional investors.
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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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