Brokerages Set Brunswick Corporation (NYSE:BC) Price Target at $84.00

Brunswick Corporation (NYSE:BC) has earned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $84.5714.

Several brokerages recently issued reports on BC. Seaport Research Partners upgraded Brunswick to a “strong-buy” rating in a report on Monday, December 8th. Roth Mkm restated a “buy” rating and set a $94.00 price objective (up from $79.00) on shares of Brunswick in a research note on Friday, January 30th. Texas Capital raised Brunswick from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Robert W. Baird set a $85.00 target price on Brunswick in a research note on Friday, January 30th. Finally, Jefferies Financial Group set a $115.00 target price on Brunswick and gave the company a “buy” rating in a report on Tuesday, January 6th.

Brunswick Trading Down 1.3%

NYSE BC opened at $70.67 on Monday. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -33.33 and a beta of 1.39. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44. Brunswick has a one year low of $41.00 and a one year high of $90.25. The company’s 50 day moving average price is $82.54 and its 200 day moving average price is $72.86.

Brunswick (NYSE:BC) last released 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. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. Brunswick’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Brunswick will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.44 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, February 23rd. Brunswick’s payout ratio is -83.02%.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 4,981 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the sale, the vice president directly owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This trade represents a 11.14% 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 38,266 shares of Brunswick stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the sale, the chief executive officer directly owned 271,169 shares in the company, valued at $23,472,388.64. This trade represents a 12.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its position in shares of Brunswick by 38.4% during the 4th quarter. Quarry LP now owns 440 shares of the company’s stock valued at $33,000 after buying an additional 122 shares during the last quarter. First Horizon Corp raised its stake in Brunswick by 31.7% during the fourth quarter. First Horizon Corp now owns 548 shares of the company’s stock worth $41,000 after acquiring an additional 132 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Brunswick by 2.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 6,783 shares of the company’s stock worth $504,000 after acquiring an additional 156 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Brunswick by 72.3% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Brunswick by 50.6% in the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock valued at $31,000 after acquiring an additional 166 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Company Profile

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.