Brunswick (NYSE:BC) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Brunswick (NYSE:BC) in a research report released on Thursday morning, The Fly reports. Wedbush currently has a $60.00 target price on the stock, up from their previous target price of $53.00. The analysts noted that the move was a valuation call.

Several other brokerages have also recently commented on BC. Citigroup lowered their price target on shares of Brunswick from $63.00 to $57.00 and set a buy rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada cut shares of Brunswick from an outperform rating to a sector perform rating and lowered their price target for the stock from $55.00 to $47.00 in a research report on Monday, July 1st. Wells Fargo & Co lowered their price target on shares of Brunswick from $64.00 to $55.00 and set an outperform rating for the company in a research report on Wednesday, July 17th. Northcoast Research cut shares of Brunswick from a buy rating to a neutral rating and set a $45.31 price target for the company. in a research report on Thursday, June 27th. Finally, Jefferies Financial Group upgraded shares of Brunswick from a hold rating to a buy rating and lifted their price target for the stock from $52.00 to $60.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $59.59.

BC opened at $53.68 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.61 billion, a PE ratio of 11.25, a PEG ratio of 1.27 and a beta of 1.70. Brunswick has a 1-year low of $41.02 and a 1-year high of $69.82. The firm has a 50-day moving average price of $47.01 and a two-hundred day moving average price of $48.26.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. Brunswick had a net margin of 3.10% and a return on equity of 26.56%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company earned $1.50 EPS. Brunswick’s revenue was down 16.9% on a year-over-year basis. On average, research analysts predict that Brunswick will post 4.23 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 20th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, August 19th. Brunswick’s payout ratio is currently 17.61%.

In other news, CFO William Metzger sold 15,517 shares of Brunswick stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $53.77, for a total value of $834,349.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. raised its holdings in shares of Brunswick by 0.9% in the second quarter. Eagle Asset Management Inc. now owns 1,253,577 shares of the company’s stock valued at $57,526,000 after purchasing an additional 10,726 shares during the last quarter. Miles Capital Inc. acquired a new stake in shares of Brunswick in the second quarter valued at approximately $208,000. Rehmann Capital Advisory Group raised its holdings in shares of Brunswick by 25.7% in the first quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock valued at $137,000 after purchasing an additional 556 shares during the last quarter. MARSHALL WACE ASIA Ltd raised its holdings in shares of Brunswick by 147.5% in the first quarter. MARSHALL WACE ASIA Ltd now owns 1,228,921 shares of the company’s stock valued at $61,852,000 after purchasing an additional 732,303 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Brunswick in the second quarter valued at approximately $1,589,000. Institutional investors own 96.50% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

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