Brunswick (NYSE:BC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
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. “
Several other analysts have also recently commented on the stock. B. Riley upped their target price on shares of Brunswick from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Northcoast Research set a $64.00 target price on shares of Brunswick and gave the company a “buy” rating in a research report on Monday, January 29th. Stifel Nicolaus reiterated a “buy” rating and set a $65.00 target price (up previously from $61.00) on shares of Brunswick in a research report on Wednesday, January 17th. ValuEngine upgraded shares of Brunswick from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Citigroup upped their target price on shares of Brunswick from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $69.66.
Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). Brunswick had a return on equity of 22.52% and a net margin of 3.09%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. equities analysts predict that Brunswick will post 4.6 EPS for the current fiscal year.
In related news, VP Christopher F. Dekker sold 3,100 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $58.84, for a total value of $182,404.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC bought a new stake in shares of Brunswick in the 4th quarter valued at $128,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Brunswick by 1,158.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,391 shares of the company’s stock worth $132,000 after purchasing an additional 2,201 shares in the last quarter. Annex Advisory Services LLC bought a new position in Brunswick during the 4th quarter worth about $238,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brunswick by 47.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,757 shares of the company’s stock worth $263,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new position in Brunswick during the 4th quarter worth about $264,000. Institutional investors and hedge funds own 93.85% of the company’s stock.
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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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