Brunswick (NYSE:BC) Raised to “Buy” at Northcoast Research

Northcoast Research upgraded shares of Brunswick (NYSE:BC) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $100.00 target price on the stock.

BC has been the subject of several other research reports. Stifel Nicolaus cut their target price on shares of Brunswick from $97.00 to $95.00 and set a buy rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on Brunswick from $78.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Truist Financial decreased their price target on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research note on Monday, July 8th. BNP Paribas reaffirmed a neutral rating and set a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Brunswick presently has a consensus rating of Moderate Buy and an average target price of $88.21.

Brunswick Trading Down 1.8 %

Shares of BC opened at $81.55 on Monday. The firm’s fifty day moving average is $76.15 and its two-hundred day moving average is $82.97. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The stock has a market cap of $5.51 billion, a PE ratio of 15.14 and a beta of 1.52. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68.

Brunswick (NYSE:BC) last released its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 earnings per share. Research analysts forecast that Brunswick will post 5.68 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is currently 31.23%.

Insiders Place Their Bets

In related news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Securities Inc. purchased a new stake in shares of Brunswick during the fourth quarter worth $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Brunswick during the fourth quarter worth about $30,000. Rise Advisors LLC boosted its holdings in shares of Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Brunswick by 347.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after buying an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Brunswick by 43,700.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.