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

Brunswick Co. (NYSE:BC) gapped down prior to trading 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.

Several other research firms have also issued reports on BC. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Truist Financial decreased their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Morgan Stanley dropped their price objective on shares of Brunswick from $78.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Roth Mkm reduced their target price on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Six equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $82.54.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 366 shares of the 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Brunswick

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Brunswick in the 3rd quarter valued at about $26,000. Armstrong Advisory Group Inc. acquired a new position in shares of Brunswick during the 4th quarter valued at $39,000. Avior Wealth Management LLC boosted its stake in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after acquiring an additional 612 shares in the last quarter. Covestor Ltd grew its holdings in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after purchasing an additional 843 shares during the period. Finally, GAMMA Investing LLC increased its stake in 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 purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Trading Down 0.4 %

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

About Brunswick

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.