Brunswick (BC) Upgraded to “Hold” at Zacks Investment Research

Brunswick (NYSE:BC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, January 18th.

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 brokerages have also issued reports on BC. B. Riley set a $70.00 price target on Brunswick and gave the company a “buy” rating in a report on Monday, October 23rd. BMO Capital Markets restated a “buy” rating and issued a $68.00 target price on shares of Brunswick in a report on Friday, October 13th. Royal Bank of Canada restated a “buy” rating on shares of Brunswick in a report on Tuesday, October 3rd. ValuEngine upgraded Brunswick from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of Brunswick in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Brunswick presently has an average rating of “Buy” and a consensus price target of $65.47.

Brunswick (BC) traded up $0.49 during trading hours on Thursday, reaching $57.21. The company had a trading volume of 1,462,423 shares, compared to its average volume of 1,016,062. The firm has a market capitalization of $5,016.75, a price-to-earnings ratio of 35.98, a P/E/G ratio of 0.77 and a beta of 1.82. Brunswick has a 1 year low of $48.04 and a 1 year high of $64.45. The company has a current ratio of 1.78, a quick ratio of 1.04 and a debt-to-equity ratio of 0.29.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities analysts anticipate that Brunswick will post 4.58 earnings per share for the current fiscal year.

In other news, insider John C. Pfeifer sold 3,780 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $54.96, for a total transaction of $207,748.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

A number of large investors have recently made changes to their positions in BC. Riverhead Capital Management LLC grew its position in Brunswick by 62.5% in the second quarter. Riverhead Capital Management LLC now owns 6,661 shares of the company’s stock valued at $418,000 after acquiring an additional 2,561 shares during the period. Ameriprise Financial Inc. grew its position in Brunswick by 6.5% in the second quarter. Ameriprise Financial Inc. now owns 390,252 shares of the company’s stock valued at $24,493,000 after acquiring an additional 23,951 shares during the period. BlackRock Inc. grew its position in Brunswick by 0.9% in the second quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock valued at $473,842,000 after acquiring an additional 65,605 shares during the period. Amalgamated Bank boosted its stake in Brunswick by 20.1% in the second quarter. Amalgamated Bank now owns 17,417 shares of the company’s stock worth $1,093,000 after purchasing an additional 2,918 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in Brunswick in the second quarter worth $387,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

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About Brunswick

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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