Brunswick (NYSE:BC) Shares Gap Down After Analyst Downgrade

Brunswick Co. (NYSE:BCGet Free Report)’s share price gapped down before the market opened on Tuesday after Citigroup lowered their price target on the stock from $92.00 to $85.00. The stock had previously closed at $70.51, but opened at $69.03. Citigroup currently has a buy rating on the stock. Brunswick shares last traded at $68.20, with a volume of 104,119 shares.

A number of other analysts have also recently weighed in on BC. Morgan Stanley decreased their price target on shares of Brunswick from $78.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Roth Mkm lowered their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 24th. B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Stifel Nicolaus reduced their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Benchmark restated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $82.54.

View Our Latest Analysis on BC

Insider Transactions at Brunswick

In other news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now owns 24,557 shares in the company, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Institutional investors have recently added to or reduced their stakes in the business. Oak Thistle LLC acquired a new position in Brunswick during the 4th quarter valued at $368,000. Bank of Montreal Can lifted its holdings in Brunswick by 20.8% during the 2nd quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock valued at $2,925,000 after purchasing an additional 6,922 shares during the last quarter. Global Alpha Capital Management Ltd. grew its position in Brunswick by 47.5% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock worth $20,128,000 after acquiring an additional 77,340 shares during the last quarter. JPMorgan Chase & Co. raised its position in Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after purchasing an additional 102,780 shares during the last quarter. Finally, Barclays PLC boosted its stake in Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company’s stock worth $9,907,000 after purchasing an additional 52,024 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Performance

The stock has a 50 day moving average price of $70.91 and a two-hundred day moving average price of $76.70. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 16.98 and a beta of 1.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74.

Brunswick Company Profile

(Get Free Report)

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.

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