Morgan Stanley Cuts Brunswick (NYSE:BC) Price Target to $64.00

Brunswick (NYSE:BC) had its target price cut by Morgan Stanley from $78.00 to $64.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Citigroup upped their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Truist Financial lowered their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Stifel Nicolaus lowered their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Finally, Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and a consensus price target of $84.46.

Brunswick Price Performance

NYSE:BC opened at $68.42 on Tuesday. The firm has a market cap of $4.51 billion, a PE ratio of 17.02 and a beta of 1.54. Brunswick has a 12 month low of $62.64 and a 12 month high of $96.65. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $71.76 and its two-hundred day moving average price is $76.79.

Insider Buying and Selling at Brunswick

In other news, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares in the company, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, the director now owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Several hedge funds and other institutional investors have recently bought and sold shares of BC. Massachusetts Financial Services Co. MA increased its holdings in Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after buying an additional 452,116 shares during the period. Janus Henderson Group PLC boosted its position in Brunswick by 1,120.5% during the 3rd quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock worth $29,725,000 after buying an additional 325,574 shares during the period. Lord Abbett & CO. LLC boosted its position in Brunswick by 50.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock worth $57,328,000 after buying an additional 228,662 shares during the period. New York State Common Retirement Fund boosted its position in Brunswick by 447.5% during the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after buying an additional 222,062 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Brunswick during the 3rd quarter worth approximately $15,907,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.