Brunswick Corporation (BC) Downgraded by BidaskClub
Brunswick Corporation (NYSE:BC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
BC has been the subject of a number of other research reports. Forward View set a $60.00 price target on shares of Brunswick Corporation and gave the stock a “hold” rating in a report on Sunday, July 30th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price objective on shares of Brunswick Corporation in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Brunswick Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Northcoast Research lowered shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. Finally, B. Riley reiterated a “buy” rating and issued a $72.00 price objective on shares of Brunswick Corporation in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.82.
Shares of Brunswick Corporation (NYSE:BC) traded up 1.94% during midday trading on Friday, hitting $55.09. 146,226 shares of the stock were exchanged. The firm’s 50-day moving average is $60.11 and its 200-day moving average is $59.11. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 17.48 and a beta of 1.81. Brunswick Corporation has a 12 month low of $42.02 and a 12 month high of $63.82.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share. Equities research analysts predict that Brunswick Corporation will post $4.05 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/11/brunswick-corporation-bc-downgraded-by-bidaskclub.html.
In other news, Chairman Mark D. Schwabero sold 3,289 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $63.73, for a total value of $209,607.97. Following the transaction, the chairman now directly owns 219,799 shares of the company’s stock, valued at $14,007,790.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Metzger sold 559 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $62.50, for a total transaction of $34,937.50. Following the completion of the transaction, the insider now directly owns 115,673 shares in the company, valued at $7,229,562.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,439 shares of company stock worth $3,258,968. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of BC. Old Mutual Global Investors UK Ltd. acquired a new position in Brunswick Corporation during the first quarter valued at $495,000. Punch & Associates Investment Management Inc. increased its position in shares of Brunswick Corporation by 0.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,614 shares of the company’s stock worth $5,178,000 after buying an additional 635 shares during the period. Russell Investments Group Ltd. increased its position in shares of Brunswick Corporation by 66.3% in the first quarter. Russell Investments Group Ltd. now owns 222,171 shares of the company’s stock worth $13,592,000 after buying an additional 88,584 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Brunswick Corporation by 76.8% in the first quarter. Janney Montgomery Scott LLC now owns 10,188 shares of the company’s stock worth $624,000 after buying an additional 4,427 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in shares of Brunswick Corporation by 15.6% in the first quarter. First Citizens Bank & Trust Co. now owns 6,057 shares of the company’s stock worth $371,000 after buying an additional 817 shares during the period. 99.59% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for Brunswick Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick Corporation and related companies with MarketBeat.com's FREE daily email newsletter.