Brunswick (NYSE:BC) Rating Lowered to Hold at StockNews.com

Brunswick (NYSE:BC – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

BC has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of Brunswick from $117.00 to $115.00 in a research note on Tuesday. BMO Capital Markets lowered their price target on shares of Brunswick from $105.00 to $90.00 in a report on Monday, May 2nd. Northcoast Research reaffirmed a “neutral” rating on shares of Brunswick in a report on Tuesday, May 17th. Citigroup decreased their price objective on shares of Brunswick from $123.00 to $106.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Finally, KeyCorp decreased their price objective on shares of Brunswick from $115.00 to $100.00 in a report on Monday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Brunswick has an average rating of “Moderate Buy” and a consensus target price of $108.27.

NYSE:BC opened at $66.07 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.10 and a quick ratio of 1.09. The company has a 50-day moving average of $73.56 and a 200 day moving average of $85.41. Brunswick has a 1-year low of $61.89 and a 1-year high of $108.51. The firm has a market cap of $5.00 billion, a PE ratio of 8.61 and a beta of 1.56.

Brunswick (NYSE:BC – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.20. Brunswick had a return on equity of 35.51% and a net margin of 9.79%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $2.24 EPS. The business’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that Brunswick will post 10.15 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of BC. Invesco Ltd. raised its stake in Brunswick by 4.5% in the third quarter. Invesco Ltd. now owns 225,828 shares of the company’s stock valued at $21,514,000 after buying an additional 9,638 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Brunswick by 14.0% during the third quarter. Guggenheim Capital LLC now owns 21,300 shares of the company’s stock worth $2,029,000 after purchasing an additional 2,609 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Brunswick by 77.6% during the third quarter. Cubist Systematic Strategies LLC now owns 24,507 shares of the company’s stock worth $2,335,000 after purchasing an additional 10,709 shares in the last quarter. Millennium Management LLC increased its position in shares of Brunswick by 1,334.1% during the third quarter. Millennium Management LLC now owns 35,751 shares of the company’s stock worth $3,406,000 after purchasing an additional 33,258 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Brunswick by 51.3% during the third quarter. Wellington Management Group LLP now owns 5,521 shares of the company’s stock worth $526,000 after purchasing an additional 1,871 shares in the last quarter. Institutional investors own 92.75% of the company’s stock.

Brunswick Company Profile (Get Rating)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

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