Brunswick Corporation (NYSE:BC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday.
BC has been the subject of a number of other research reports. Robert W. Baird reaffirmed a “buy” rating and set a $68.00 price objective on shares of Brunswick Corporation in a research report on Friday, September 8th. Zacks Investment Research raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, June 29th. BMO Capital Markets reduced their price objective on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. KeyCorp reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Brunswick Corporation in a research report on Wednesday, August 30th. Finally, BidaskClub lowered Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.93.
Shares of Brunswick Corporation (NYSE:BC) opened at 53.21 on Wednesday. The stock’s 50 day moving average price is $53.64 and its 200 day moving average price is $57.82. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82. The company has a market cap of $4.72 billion, a P/E ratio of 16.88 and a beta of 1.82.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts forecast that Brunswick Corporation will post $4.05 EPS for the current year.
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In other news, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $63.72, for a total value of $174,465.36. Following the transaction, the chairman now directly owns 219,783 shares in the company, valued at approximately $14,004,572.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Metzger sold 15,301 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $62.50, for a total value of $956,312.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,880 shares of company stock worth $3,224,030. Company insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BC. Advisors Asset Management Inc. purchased a new position in shares of Brunswick Corporation in the 2nd quarter worth $134,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Brunswick Corporation by 149.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock worth $160,000 after buying an additional 1,529 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Brunswick Corporation by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock worth $202,000 after buying an additional 280 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Brunswick Corporation by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock worth $202,000 after buying an additional 87 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Brunswick Corporation in the 1st quarter worth $207,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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