Brunswick (NYSE:BC) Given New $60.00 Price Target at Truist Financial

Brunswick (NYSE:BC) had its price target cut by Truist Financial from $85.00 to $60.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. B. Riley raised Brunswick to a “hold” rating in a report on Wednesday, February 12th. Stifel Nicolaus dropped their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Baird R W cut shares of Brunswick from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley lifted their price target on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reiterated a “neutral” rating and set a $56.00 price objective (down previously from $90.00) on shares of Brunswick in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brunswick has a consensus rating of “Hold” and an average target price of $76.67.

Brunswick Price Performance

Shares of NYSE BC opened at $43.37 on Monday. The firm’s 50-day simple moving average is $56.08 and its 200 day simple moving average is $68.41. The stock has a market cap of $2.86 billion, a P/E ratio of 22.83 and a beta of 1.42. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Brunswick has a fifty-two week low of $41.00 and a fifty-two week high of $87.65.

Brunswick (NYSE:BC) last released its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same period in the prior year, the business earned $1.45 earnings per share. Equities analysts expect that Brunswick will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a $0.43 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.97%. Brunswick’s dividend payout ratio is currently 90.53%.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares in the company, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BC. Deutsche Bank AG boosted its holdings in Brunswick by 0.6% during the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company’s stock valued at $1,813,000 after acquiring an additional 160 shares during the period. Pacer Advisors Inc. grew its holdings in Brunswick by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 9,861 shares of the company’s stock valued at $638,000 after buying an additional 190 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Brunswick by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company’s stock worth $316,000 after buying an additional 236 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Brunswick by 33.3% during the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company’s stock worth $58,000 after buying an additional 269 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Brunswick by 4.9% in the fourth quarter. Xponance Inc. now owns 7,617 shares of the company’s stock valued at $493,000 after acquiring an additional 359 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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.