Truist Financial Has Lowered Expectations for Brunswick (NYSE:BC) Stock Price

Brunswick (NYSE:BC) had its price target reduced by Truist Financial from $85.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 38.03% from the stock’s previous close.

A number of other analysts have also issued reports on BC. Benchmark dropped their target price on Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Robert W. Baird reiterated a “neutral” rating and set a $56.00 target price (down from $90.00) on shares of Brunswick in a research note on Friday, April 4th. Baird R W lowered shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Citigroup reduced their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, B. Riley raised shares of Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.67.

Brunswick Stock Performance

Brunswick stock opened at $43.47 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. Brunswick has a one year low of $41.00 and a one year high of $87.65. The stock’s 50 day moving average price is $56.52 and its 200 day moving average price is $68.59. The firm has a market capitalization of $2.86 billion, a PE ratio of 22.88 and a beta of 1.42.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the previous year, the company earned $1.45 EPS. As a group, sell-side analysts expect that Brunswick will post 4.19 EPS for the current fiscal year.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the sale, the director now directly owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. acquired a new stake in Brunswick in the fourth quarter worth about $39,000. Financial Perspectives Inc acquired a new stake in shares of Brunswick in the 4th quarter worth approximately $42,000. Quarry LP bought a new position in shares of Brunswick in the fourth quarter valued at approximately $45,000. UMB Bank n.a. increased its stake in shares of Brunswick by 695.7% during the first quarter. UMB Bank n.a. now owns 732 shares of the company’s stock valued at $39,000 after acquiring an additional 640 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Brunswick by 33.3% during the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company’s stock worth $58,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.