Brunswick's (BC) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Brunswick (NYSE:BC - Free Report) in a report published on Friday, Benzinga reports. They currently have a $100.00 price target on the stock.

Several other brokerages have also recently weighed in on BC. Northcoast Research upgraded shares of Brunswick from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, July 29th. Jefferies Financial Group restated a "hold" rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Citigroup lifted their price target on Brunswick from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Roth Mkm restated a "buy" rating and set a $94.00 price objective on shares of Brunswick in a research report on Thursday, July 25th. Finally, Stifel Nicolaus lowered their price objective on Brunswick from $97.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of "Moderate Buy" and a consensus price target of $89.23.

Brunswick Price Performance

Shares of BC traded up $0.80 during midday trading on Friday, hitting $80.76. 1,113,857 shares of the company traded hands, compared to its average volume of 718,351. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The firm has a 50 day moving average of $80.28 and a 200-day moving average of $79.19. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 15.01 and a beta of 1.51.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS 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 the consensus estimate of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. Brunswick's quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 earnings per share. On average, analysts forecast that Brunswick will post 5.26 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick's dividend payout ratio is presently 31.23%.

Insider Buying and Selling at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the sale, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Brunswick

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Brunswick in the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 437 shares during the period. J.Safra Asset Management Corp raised its stake in Brunswick by 77.1% in the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company's stock worth $58,000 after buying an additional 262 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Brunswick by 47.0% during the first quarter. Valley National Advisers Inc. now owns 1,120 shares of the company's stock worth $108,000 after buying an additional 358 shares during the period. Finally, GAMMA Investing LLC boosted its position in Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company's stock valued at $97,000 after acquiring an additional 555 shares in the last quarter. 99.34% of the stock is currently 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.