Wedbush Upgrades Brunswick (BC) to “Outperform”

Wedbush upgraded shares of Brunswick (NYSE:BC) from a neutral rating to an outperform rating in a research note released on Wednesday, Marketbeat reports. Wedbush currently has $70.00 target price on the stock, up from their prior target price of $57.54.

Other research analysts also recently issued reports about the company. B. Riley restated a buy rating on shares of Brunswick in a report on Wednesday, December 6th. Northcoast Research upgraded Brunswick from a neutral rating to a buy rating in a report on Friday, November 3rd. SunTrust Banks restated a buy rating and set a $62.00 price objective on shares of Brunswick in a report on Friday, October 27th. Stifel Nicolaus reduced their price objective on Brunswick from $68.00 to $61.00 and set a buy rating on the stock in a report on Friday, October 27th. Finally, Imperial Capital restated a buy rating and set a $65.00 price objective on shares of Brunswick in a report on Wednesday, December 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Brunswick currently has a consensus rating of Buy and an average target price of $66.13.

Shares of Brunswick (NYSE:BC) opened at $59.04 on Wednesday. Brunswick has a one year low of $48.04 and a one 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. The stock has a market capitalization of $5,180.00, a P/E ratio of 31.24, a P/E/G ratio of 0.79 and a beta of 1.81.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be issued a $0.19 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.29%. Brunswick’s dividend payout ratio is presently 40.21%.

In other news, insider John C. Pfeifer sold 3,780 shares of Brunswick stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $54.96, for a total value of $207,748.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher F. Dekker sold 3,100 shares of Brunswick stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $58.84, for a total value of $182,404.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Brunswick by 128.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,006,453 shares of the company’s stock worth $166,017,000 after purchasing an additional 1,689,317 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Brunswick by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,928,462 shares of the company’s stock worth $162,382,000 after purchasing an additional 120,485 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Brunswick by 12.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,468,150 shares of the company’s stock worth $136,291,000 after purchasing an additional 276,850 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Brunswick by 213.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,131,199 shares of the company’s stock worth $117,685,000 after purchasing an additional 1,451,636 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Brunswick by 8.2% in the 4th quarter. Schroder Investment Management Group now owns 1,810,603 shares of the company’s stock worth $99,981,000 after purchasing an additional 136,614 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

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Brunswick Company Profile

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.

Analyst Recommendations for Brunswick (NYSE:BC)

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