Morgan Stanley Lowers Brunswick (NYSE:BC) Price Target to $64.00

Brunswick (NYSE:BC) had its price target lowered by analysts at Morgan Stanley from $78.00 to $64.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 5.26% from the stock’s previous close.

Several other analysts have also recently issued reports on BC. Citigroup boosted their price objective on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Benchmark restated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a report on Friday, October 25th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Stifel Nicolaus dropped their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Truist Financial reduced their price target on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick currently has a consensus rating of “Moderate Buy” and an average target price of $84.46.

Brunswick Trading Down 2.5 %

Shares of BC stock opened at $67.55 on Tuesday. The firm’s 50-day simple moving average is $72.00 and its 200-day simple moving average is $76.85. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. Brunswick has a 1-year low of $62.64 and a 1-year high of $96.65. The firm has a market cap of $4.46 billion, a P/E ratio of 16.80 and a beta of 1.54.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the transaction, the director now owns 19,218 shares of the company’s stock, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock worth $2,321,176 in the last 90 days. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brunswick

Several large investors have recently added to or reduced their stakes in BC. Massachusetts Financial Services Co. MA boosted its stake in Brunswick by 17.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the period. Janus Henderson Group PLC boosted its position in Brunswick by 1,120.5% during the 3rd quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock valued at $29,725,000 after purchasing an additional 325,574 shares during the period. Lord Abbett & CO. LLC boosted its position in Brunswick by 50.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock valued at $57,328,000 after purchasing an additional 228,662 shares during the period. New York State Common Retirement Fund grew its stake in Brunswick by 447.5% during the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after buying an additional 222,062 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Brunswick in the third quarter worth $15,907,000. 99.34% of the stock is currently owned by institutional investors.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.