Roth Mkm Cuts Brunswick (NYSE:BC) Price Target to $85.00

Brunswick (NYSE:BC) had its price objective cut by Roth Mkm from $91.00 to $85.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. Citigroup boosted their target price on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. DA Davidson reduced their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Benchmark restated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $95.00 to $88.00 in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.77.

Brunswick Price Performance

Shares of NYSE:BC opened at $68.24 on Friday. Brunswick has a 12 month low of $62.64 and a 12 month high of $96.65. The firm has a market capitalization of $4.50 billion, a P/E ratio of 16.97 and a beta of 1.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The company’s fifty day moving average price is $71.52 and its 200 day moving average price is $76.86.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the transaction, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company’s stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 grew its stake in shares of Brunswick by 17.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after buying an additional 452,116 shares during the period. JPMorgan Chase & Co. grew its position in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after acquiring an additional 102,780 shares during the period. Victory Capital Management Inc. increased its stake in Brunswick by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after acquiring an additional 168,384 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brunswick by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after purchasing an additional 28,781 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in shares of Brunswick by 11.9% in the 3rd quarter. Copeland Capital Management LLC now owns 949,094 shares of the company’s stock valued at $79,553,000 after purchasing an additional 101,123 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other 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.