Brunswick Corporation (BC) Earns Hold Rating from Jefferies Group LLC
Brunswick Corporation (NYSE:BC)‘s stock had its “hold” rating reissued by analysts at Jefferies Group LLC in a research note issued on Friday. They presently have a $56.00 price target on the stock. Jefferies Group LLC’s price target points to a potential upside of 8.76% from the stock’s current price.
BC has been the subject of several other research reports. Forward View set a $60.00 target price on Brunswick Corporation and gave the company a “hold” rating in a research report on Sunday, July 30th. BidaskClub lowered Brunswick Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Brunswick Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 target price on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Finally, Northcoast Research lowered Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.27.
Brunswick Corporation (NYSE BC) traded down 2.06% on Friday, reaching $50.27. The company’s stock had a trading volume of 766,889 shares. The company has a market capitalization of $4.46 billion, a PE ratio of 15.95 and a beta of 1.81. The firm has a 50-day moving average of $58.93 and a 200-day moving average of $59.03. Brunswick Corporation has a one year low of $42.02 and a one year high of $63.82.
Brunswick Corporation (NYSE:BC) last announced its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict that Brunswick Corporation will post $4.05 EPS for the current year.
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In related news, insider William Metzger sold 15,301 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $62.50, for a total value of $956,312.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark D. Schwabero sold 3,289 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $63.73, for a total transaction of $209,607.97. Following the completion of the transaction, the chairman now directly owns 219,799 shares of the company’s stock, valued at approximately $14,007,790.27. The disclosure for this sale can be found here. Insiders sold 51,439 shares of company stock valued at $3,258,968 in the last quarter. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of BC. Somerset Trust Co increased its position in shares of Brunswick Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 9,309 shares of the company’s stock worth $584,000 after buying an additional 39 shares during the period. Aspen Investment Management Inc increased its position in shares of Brunswick Corporation by 0.9% in the second quarter. Aspen Investment Management Inc now owns 5,420 shares of the company’s stock worth $340,000 after buying an additional 50 shares during the period. Advisor Group Inc. increased its position in shares of Brunswick Corporation by 2.7% in the second quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock worth $202,000 after buying an additional 87 shares during the period. Teacher Retirement System of Texas increased its position in shares of Brunswick Corporation by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock worth $450,000 after buying an additional 98 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Brunswick Corporation by 2.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock worth $285,000 after buying an additional 106 shares during the period. 99.27% of the stock is owned by institutional investors.
Brunswick Corporation 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.
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