Brunswick (NYSE:BC) Given New $86.00 Price Target at Morgan Stanley

Brunswick (NYSE:BC) had its price target reduced by Morgan Stanley from $91.00 to $86.00 in a research report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on the stock. DA Davidson restated a neutral rating and set a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Stifel Nicolaus boosted their target price on shares of Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Roth Mkm reaffirmed a buy rating and set a $94.00 price objective on shares of Brunswick in a research report on Thursday. BNP Paribas reaffirmed a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Finally, B. Riley raised shares of Brunswick from a neutral rating to a buy rating and lifted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $92.83.

Brunswick Price Performance

NYSE BC opened at $81.05 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a market capitalization of $5.58 billion, a PE ratio of 15.07 and a beta of 1.56. The firm’s 50 day moving average is $89.13 and its 200-day moving average is $84.77.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $2.57 earnings per share. Brunswick’s revenue for the quarter was down 21.7% on a year-over-year basis. Equities research analysts anticipate that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is 31.23%.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan M. Gwillim sold 9,036 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the transaction, the chief financial officer now directly owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Brunswick

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Brunswick by 140.4% in the third quarter. FMR LLC now owns 3,435,357 shares of the company’s stock valued at $271,393,000 after acquiring an additional 2,006,578 shares during the last quarter. American Century Companies Inc. boosted its holdings in Brunswick by 0.5% in the third quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock valued at $155,794,000 after acquiring an additional 9,465 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Brunswick by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock valued at $185,483,000 after acquiring an additional 47,053 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Brunswick by 32.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock valued at $110,712,000 after acquiring an additional 278,082 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in Brunswick by 25.7% in the third quarter. Van Berkom & Associates Inc. now owns 899,980 shares of the company’s stock valued at $71,098,000 after acquiring an additional 184,088 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

About Brunswick

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.