Zacks Investment Research upgraded shares of Brunswick (NYSE:BC) from a sell rating to a hold rating in a research report released on Thursday.
According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “
BC has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a buy rating and set a $65.00 price target (up from $61.00) on shares of Brunswick in a research report on Wednesday, January 17th. ValuEngine raised Brunswick from a hold rating to a buy rating in a research report on Wednesday, January 3rd. Robert W. Baird reaffirmed a buy rating and set a $65.00 price target on shares of Brunswick in a research report on Friday, December 22nd. Royal Bank of Canada reaffirmed a buy rating and set a $66.00 price target on shares of Brunswick in a research report on Wednesday, December 20th. Finally, Imperial Capital reaffirmed a buy rating and set a $65.00 price target on shares of Brunswick in a research report on Wednesday, December 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $63.42.
Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brunswick had a return on equity of 22.71% and a net margin of 5.93%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. analysts forecast that Brunswick will post 3.85 EPS for the current fiscal year.
In other news, insider John C. Pfeifer sold 3,780 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $54.96, for a total transaction of $207,748.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. boosted its holdings in Brunswick by 108.6% in the third quarter. Advisor Group Inc. now owns 6,896 shares of the company’s stock valued at $386,000 after purchasing an additional 3,590 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Brunswick by 106.9% in the third quarter. Prudential Financial Inc. now owns 589,175 shares of the company’s stock valued at $32,976,000 after purchasing an additional 304,470 shares during the last quarter. Clinton Group Inc. boosted its holdings in Brunswick by 50.3% in the second quarter. Clinton Group Inc. now owns 11,983 shares of the company’s stock valued at $752,000 after purchasing an additional 4,012 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Brunswick in the third quarter valued at $3,322,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Brunswick in the second quarter valued at $348,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
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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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