Zacks Investment Research cut shares of Brunswick Corp. (NYSE:BC) from a hold rating to a sell rating in a report issued on Friday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
A number of other brokerages have also recently weighed in on BC. B. Riley reaffirmed a buy rating and set a $65.00 price target on shares of Brunswick Corp. in a research report on Monday, August 22nd. Off Wall Street initiated coverage on shares of Brunswick Corp. in a research note on Monday, July 18th. They set a sell rating on the stock. Imperial Capital initiated coverage on shares of Brunswick Corp. in a research note on Tuesday, September 27th. They set an outperform rating and a $60.00 price objective on the stock. Wedbush reiterated an outperform rating and set a $60.00 price objective on shares of Brunswick Corp. in a research note on Tuesday, June 21st. Finally, Robert W. Baird reiterated an outperform rating on shares of Brunswick Corp. in a research note on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $56.69.
Shares of Brunswick Corp. (NYSE:BC) traded up 0.35% during mid-day trading on Friday, reaching $48.22. 101,129 shares of the company were exchanged. The company’s 50-day moving average is $47.49 and its 200 day moving average is $47.66. Brunswick Corp. has a 12 month low of $36.05 and a 12 month high of $55.65. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 18.76 and a beta of 1.98.
Brunswick Corp. (NYSE:BC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. Brunswick Corp.’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. Analysts predict that Brunswick Corp. will post $3.48 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC acquired a new stake in Brunswick Corp. during the first quarter valued at $35,811,000. JPMorgan Chase & Co. raised its stake in Brunswick Corp. by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 1,654,292 shares of the company’s stock valued at $79,374,000 after buying an additional 623,844 shares during the last quarter. AXA acquired a new stake in Brunswick Corp. during the first quarter valued at $24,679,000. Boston Partners raised its stake in Brunswick Corp. by 9.9% in the second quarter. Boston Partners now owns 5,533,911 shares of the company’s stock valued at $250,796,000 after buying an additional 499,837 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Brunswick Corp. by 13.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,487,571 shares of the company’s stock valued at $167,334,000 after buying an additional 424,611 shares during the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
About Brunswick Corp.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.