JPMorgan Chase & Co. Issues Positive Forecast for Brunswick (NYSE:BC) Stock Price

Brunswick (NYSE:BC) had its price target upped by equities researchers at JPMorgan Chase & Co. from $73.00 to $78.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.39% from the company’s previous close.

Several other brokerages have also commented on BC. Jefferies Financial Group set a $115.00 price target on Brunswick and gave the company a “buy” rating in a research note on Tuesday, January 6th. Roth Mkm reissued a “buy” rating and set a $94.00 target price (up from $79.00) on shares of Brunswick in a research report on Friday, January 30th. Wolfe Research set a $90.00 price target on shares of Brunswick in a report on Monday, January 12th. Morgan Stanley set a $82.00 price target on shares of Brunswick in a research report on Tuesday, February 17th. Finally, Seaport Research Partners upgraded shares of Brunswick to a “strong-buy” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Brunswick presently has a consensus rating of “Hold” and an average target price of $84.57.

Brunswick Trading Up 3.5%

Shares of NYSE:BC traded up $2.40 during trading on Monday, reaching $71.31. 488,448 shares of the company were exchanged, compared to its average volume of 1,056,177. The business’s fifty day simple moving average is $83.15 and its 200-day simple moving average is $72.76. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.44 and a quick ratio of 0.61. Brunswick has a 12-month low of $41.00 and a 12-month high of $90.25. The firm has a market capitalization of $4.62 billion, a PE ratio of -33.66 and a beta of 1.39.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.Brunswick’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. On average, research analysts anticipate that Brunswick will post 4.19 EPS for the current year.

Insider Buying and Selling

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of Brunswick stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the transaction, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the sale, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

Several institutional investors and hedge funds have recently made changes to their positions in BC. Corient Private Wealth LLC increased its position in shares of Brunswick by 45.6% in the 4th quarter. Corient Private Wealth LLC now owns 11,783 shares of the company’s stock valued at $875,000 after acquiring an additional 3,693 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Brunswick by 32.1% in the fourth quarter. Hsbc Holdings PLC now owns 35,979 shares of the company’s stock valued at $2,677,000 after purchasing an additional 8,733 shares during the period. Invesco Ltd. increased its holdings in shares of Brunswick by 381.4% in the fourth quarter. Invesco Ltd. now owns 765,651 shares of the company’s stock valued at $56,842,000 after purchasing an additional 606,618 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Brunswick by 13.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 31,342 shares of the company’s stock worth $2,327,000 after purchasing an additional 3,763 shares during the last quarter. Finally, Vident Advisory LLC acquired a new stake in shares of Brunswick during the fourth quarter worth about $206,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.