Brunswick (NYSE:BC) Shares Gap Down After Analyst Downgrade

Brunswick Co. (NYSE:BC - Get Free Report)'s share price gapped down before the market opened on Tuesday after Citigroup lowered their price target on the stock from $92.00 to $85.00. The stock had previously closed at $70.51, but opened at $69.03. Citigroup currently has a buy rating on the stock. Brunswick shares last traded at $68.20, with a volume of 104,119 shares traded.

Other analysts also recently issued research reports about the stock. DA Davidson reduced their price target on shares of Brunswick from $80.00 to $60.00 and set a "neutral" rating for the company in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price target on Brunswick from $78.00 to $64.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Truist Financial reduced their price objective on Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Benchmark reissued a "buy" rating and issued a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Finally, Stifel Nicolaus lowered their price objective on shares of Brunswick from $95.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.54.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the company'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 transaction, the director now directly 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 stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company's stock, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in shares of Brunswick by 0.5% during the third quarter. Nisa Investment Advisors LLC now owns 26,731 shares of the company's stock valued at $2,241,000 after purchasing an additional 145 shares during the period. Inspire Investing LLC boosted its holdings in shares of Brunswick by 2.8% in the third quarter. Inspire Investing LLC now owns 5,545 shares of the company's stock valued at $465,000 after acquiring an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brunswick by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company's stock valued at $390,000 after buying an additional 174 shares during the period. Pacer Advisors Inc. grew its stake in shares of Brunswick by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 9,861 shares of the company's stock worth $638,000 after purchasing an additional 190 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Brunswick by 21.6% in the 3rd quarter. CWM LLC now owns 1,323 shares of the company's stock worth $111,000 after acquiring an additional 235 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Stock Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The firm has a market capitalization of $4.53 billion, a PE ratio of 17.07 and a beta of 1.54. The firm has a fifty day moving average price of $71.33 and a 200 day moving average price of $76.82.

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.