Morgan Stanley Trims Brunswick (NYSE:BC) Target Price to $86.00

Brunswick (NYSE:BC) had its price target decreased by Morgan Stanley from $91.00 to $86.00 in a report published on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. BNP Paribas reissued a neutral rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Raymond James cut shares of Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. DA Davidson reaffirmed a neutral rating and set a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. B. Riley raised shares of Brunswick from a neutral rating to a buy rating and lifted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Finally, Truist Financial reduced their price objective on shares of Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Brunswick Price Performance

Shares of BC opened at $81.08 on Friday. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a quick ratio of 0.59, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $89.02 and a 200-day moving average of $84.93. The stock has a market capitalization of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $2.57 earnings per share. Brunswick’s quarterly revenue was down 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that Brunswick will post 7.43 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.42 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a yield of 2.07%. Brunswick’s payout ratio is presently 31.23%.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.10, for a total transaction of $787,035.60. Following the sale, the chief financial officer now directly owns 28,966 shares in the company, valued at $2,522,938.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Brunswick

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prestige Wealth Management Group LLC boosted its holdings in Brunswick by 2,478.0% in the first quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after acquiring an additional 1,016 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Brunswick by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company’s stock valued at $1,911,000 after acquiring an additional 500 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Brunswick by 47.0% in the first quarter. Valley National Advisers Inc. now owns 1,120 shares of the company’s stock valued at $108,000 after acquiring an additional 358 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Brunswick by 2.4% in the first quarter. State of Michigan Retirement System now owns 16,870 shares of the company’s stock valued at $1,628,000 after acquiring an additional 400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.