Brunswick (NYSE:BC) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Brunswick Corporation (NYSE:BC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $74.73 and traded as high as $84.85. Brunswick shares last traded at $84.0550, with a volume of 1,461,332 shares trading hands.

Analysts Set New Price Targets

BC has been the subject of several research reports. Roth Mkm reissued a “buy” rating and issued a $94.00 target price (up from $79.00) on shares of Brunswick in a research note on Friday, January 30th. Wall Street Zen raised Brunswick from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Jefferies Financial Group set a $115.00 price objective on Brunswick and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brunswick in a report on Friday, March 27th. Finally, DA Davidson increased their target price on Brunswick from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.57.

Brunswick Stock Performance

The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The stock has a market cap of $5.21 billion, a P/E ratio of -37.75 and a beta of 1.38. The stock has a fifty day simple moving average of $77.02 and a 200-day simple moving average of $74.81.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business earned $0.24 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Brunswick Corporation will post 4.26 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. Brunswick’s payout ratio is presently -83.02%.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 4,981 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total value of $435,239.78. Following the completion of the transaction, the vice president directly owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Foulkes sold 38,266 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the completion of the transaction, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC grew its stake in Brunswick by 6.8% in the first quarter. Inspire Investing LLC now owns 8,523 shares of the company’s stock valued at $620,000 after acquiring an additional 539 shares during the period. Louisiana State Employees Retirement System acquired a new position in Brunswick in the first quarter valued at about $1,375,000. Ritholtz Wealth Management acquired a new position in Brunswick in the first quarter valued at about $914,000. Friedenthal Financial acquired a new position in Brunswick in the first quarter valued at about $992,000. Finally, SG Americas Securities LLC grew its stake in Brunswick by 4.8% in the first quarter. SG Americas Securities LLC now owns 16,887 shares of the company’s stock valued at $1,229,000 after acquiring an additional 766 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.