Brunswick (NYSE:BC) Lowered to Neutral Rating by B. Riley

B. Riley lowered shares of Brunswick (NYSE:BC) from a buy rating to a neutral rating in a research report report published on Tuesday, MarketBeat Ratings reports. B. Riley currently has $88.00 price target on the stock, down from their prior price target of $95.00.

A number of other research firms have also commented on BC. Citigroup raised their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Finally, Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.54.

Brunswick Stock Performance

BC opened at $80.62 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Brunswick has a 1-year low of $69.05 and a 1-year high of $99.68. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 20.05 and a beta of 1.51. The company’s fifty day moving average price is $81.87 and its two-hundred day moving average price is $78.77.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. Brunswick’s dividend payout ratio is presently 41.79%.

Insiders Place Their Bets

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the transaction, the director now owns 19,218 shares in the company, valued at approximately $1,540,130.52. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock valued at $2,321,176 over the last 90 days. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Brunswick during the third quarter valued at approximately $26,000. Avior Wealth Management LLC raised its holdings in Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after buying an additional 612 shares during the last quarter. Covestor Ltd boosted its position in Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares during the period. GAMMA Investing LLC increased its position in shares of Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after acquiring an additional 555 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Brunswick by 47.0% during the second quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock valued at $110,000 after acquiring an additional 483 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Company Profile

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.