DA Davidson Cuts Brunswick (NYSE:BC) Price Target to $60.00

Brunswick (NYSE:BC - Get Free Report) had its price target lowered by equities researchers at DA Davidson from $80.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's price target would suggest a potential downside of 11.18% from the stock's current price.

A number of other brokerages have also recently weighed in on BC. Stifel Nicolaus reduced their price objective on shares of Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Morgan Stanley reduced their price objective on shares of Brunswick from $78.00 to $64.00 and set an "equal weight" rating for the company in a research note on Tuesday. 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 note on Friday, September 27th. Benchmark restated a "buy" rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, Truist Financial cut their target price on shares of Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.46.

Brunswick Stock Down 2.5 %

NYSE BC traded down $1.70 during trading on Wednesday, reaching $67.55. The company's stock had a trading volume of 692,062 shares, compared to its average volume of 600,389. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $4.46 billion, a PE ratio of 16.80 and a beta of 1.54. The business has a 50-day moving average price of $72.00 and a 200-day moving average price of $76.85. Brunswick has a 1-year low of $62.64 and a 1-year high of $96.65.

Insider Buying and Selling

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now owns 24,557 shares in the company, valued at approximately $1,969,225.83. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now owns 19,218 shares of the company's stock, valued at $1,540,130.52. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 in the last quarter. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brunswick

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in shares of Brunswick by 4.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company's stock valued at $12,164,000 after purchasing an additional 6,853 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Brunswick by 13.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,257 shares of the company's stock worth $674,000 after acquiring an additional 1,073 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Brunswick by 7.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,233 shares of the company's stock worth $441,000 after acquiring an additional 414 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Brunswick by 181.7% during the 2nd quarter. Hsbc Holdings PLC now owns 8,914 shares of the company's stock worth $645,000 after acquiring an additional 5,750 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Brunswick by 7.6% during the 2nd quarter. Sei Investments Co. now owns 221,073 shares of the company's stock worth $16,087,000 after acquiring an additional 15,602 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

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.