Stifel Nicolaus Lowers Brunswick (NYSE:BC) Price Target to $86.00

Brunswick (NYSE:BC) had its price objective lowered by Stifel Nicolaus from $95.00 to $86.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 27.48% from the stock’s current price.

Several other equities research analysts have also recently weighed in on BC. Truist Financial lowered their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Citigroup boosted their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and an average target price of $87.46.

Brunswick Price Performance

Shares of BC stock traded up $1.66 during trading hours on Wednesday, hitting $67.46. 160,407 shares of the company’s stock were exchanged, compared to its average volume of 554,716. The stock’s 50-day moving average is $73.84 and its 200-day moving average is $76.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. Brunswick has a 52 week low of $62.64 and a 52 week high of $96.65. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 16.78 and a beta of 1.54.

Insider Buying and Selling

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, the director now owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,940 shares of company stock valued at $2,321,176 in the last 90 days. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Brunswick

Several hedge funds have recently made changes to their positions in BC. Massachusetts Financial Services Co. MA lifted its position in Brunswick by 17.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after buying an additional 452,116 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Brunswick by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after acquiring an additional 144,416 shares in the last quarter. JPMorgan Chase & Co. raised its position in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after acquiring an additional 102,780 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Brunswick by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after acquiring an additional 168,384 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Brunswick by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after acquiring an additional 28,781 shares during the period. 99.34% of the stock is owned by 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.