Truist Financial Trims Brunswick (NYSE:BC) Target Price to $90.00

Brunswick (NYSE:BC) had its price target lowered by Truist Financial from $95.00 to $90.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

BC has been the topic of several other research reports. BNP Paribas reiterated a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Roth Mkm reissued a buy rating and set a $94.00 target price on shares of Brunswick in a research note on Thursday, April 25th. DA Davidson reiterated a neutral rating and set a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Benchmark assumed coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a buy rating and a $100.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Brunswick has a consensus rating of Moderate Buy and an average price target of $90.46.

Brunswick Stock Performance

Shares of BC stock opened at $71.24 on Monday. The company has a 50 day moving average price of $77.05 and a 200-day moving average price of $84.41. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The firm has a market capitalization of $4.81 billion, a PE ratio of 13.24 and a beta of 1.52. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.57 EPS. As a group, equities research analysts expect that Brunswick will post 7.39 earnings per share for the current year.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the transaction, the director now owns 23,211 shares in the company, valued at approximately $1,864,771.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the transaction, the vice president now owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Brunswick

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hawk Ridge Capital Management LP acquired a new position in shares of Brunswick during the fourth quarter worth about $5,777,000. Jennison Associates LLC raised its stake in shares of Brunswick by 5.2% during the first quarter. Jennison Associates LLC now owns 848,728 shares of the company’s stock worth $81,919,000 after purchasing an additional 42,332 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Brunswick by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after acquiring an additional 47,053 shares in the last quarter. Van ECK Associates Corp raised its position in Brunswick by 32.0% in the first quarter. Van ECK Associates Corp now owns 73,470 shares of the company’s stock worth $7,091,000 after acquiring an additional 17,824 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its position in Brunswick by 160.6% in the first quarter. Capstone Investment Advisors LLC now owns 20,771 shares of the company’s stock worth $2,005,000 after acquiring an additional 12,802 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Company Profile

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.