Brunswick (NYSE:BC) Raised to Strong-Buy at Texas Capital

Brunswick (NYSE:BC) was upgraded by stock analysts at Texas Capital from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on BC. Morgan Stanley set a $82.00 price objective on shares of Brunswick in a report on Tuesday, February 17th. Wall Street Zen lowered shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Loop Capital started coverage on Brunswick in a research report on Monday, December 22nd. They set a “hold” rating and a $74.00 target price on the stock. B. Riley Financial restated a “neutral” rating and issued a $80.00 price target (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Finally, Griffin Securities set a $76.00 price target on Brunswick in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Brunswick Stock Performance

Shares of NYSE BC opened at $72.07 on Tuesday. The company has a 50 day simple moving average of $83.46 and a two-hundred day simple moving average of $72.67. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -33.99 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. Brunswick has a 12 month low of $41.00 and a 12 month high of $90.25.

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

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 4,981 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 39,740 shares in the company, valued at $3,472,481.20. The trade was a 11.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer directly owned 271,169 shares in the company, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brunswick

Several large investors have recently bought and sold shares of BC. Farther Finance Advisors LLC lifted its holdings in Brunswick by 72.3% during the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Brunswick during the 4th quarter worth approximately $30,000. First Horizon Corp purchased a new stake in shares of Brunswick during the 3rd quarter worth approximately $26,000. Quarry LP boosted its holdings in shares of Brunswick by 38.4% in the 4th quarter. Quarry LP now owns 440 shares of the company’s stock valued at $33,000 after buying an additional 122 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Brunswick by 50.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock valued at $31,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.