Brunswick (NYSE:BC) Stock Price Target Cut by Citigroup

Key Points

• Citigroup cut Brunswick’s price target from $101 to $93 while maintaining a “buy” rating, implying approximately 17.34% upside from the prior close.
• Analyst sentiment is mixed: Brunswick has an overall “Hold” rating and an average price target of $83.75, based on one Strong Buy, five Buys, six Holds, and one Sell.
• Brunswick reported quarterly EPS of $1.58, exceeding the $1.35 consensus estimate, while revenue reached $1.45 billion, up 6.9% year over year but slightly below expectations.

Brunswick (NYSE:BC - Get Free Report) had its price target dropped by research analysts at Citigroup from $101.00 to $93.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 17.34% from the company's previous close.

Several other research analysts also recently commented on BC. William Blair set a $94.00 price objective on shares of Brunswick in a report on Thursday, August 13th. Robert W. Baird set a $92.00 target price on Brunswick in a research report on Friday, July 31st. Truist Financial reduced their price target on Brunswick from $94.00 to $81.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. DA Davidson reiterated a "neutral" rating and set a $76.00 price objective on shares of Brunswick in a research note on Monday, August 17th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Brunswick in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.75.

Brunswick Stock Performance

BC traded up $3.92 during trading hours on Monday, hitting $79.26. The stock had a trading volume of 444,937 shares, compared to its average volume of 817,451. The company's fifty day simple moving average is $68.90 and its 200 day simple moving average is $77.45. Brunswick has a 1 year low of $59.06 and a 1 year high of $90.25. The stock has a market cap of $5.14 billion, a PE ratio of 24.53 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.07.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.23. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.46 billion. Brunswick had a return on equity of 17.51% and a net margin of 3.69%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. Equities analysts anticipate that Brunswick will post 4.65 earnings per share for the current year.

Institutional Trading of Brunswick

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Brunswick during the second quarter worth approximately $568,461,000. Dimensional Fund Advisors LP raised its position in Brunswick by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,931,104 shares of the company's stock worth $213,253,000 after purchasing an additional 82,689 shares during the period. Bank of New York Mellon Corp purchased a new position in Brunswick in the 2nd quarter worth $101,201,000. Bank of America Corp DE raised its position in Brunswick by 296.1% in the 1st quarter. Bank of America Corp DE now owns 872,368 shares of the company's stock worth $63,474,000 after purchasing an additional 652,136 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Brunswick in the second quarter worth $40,211,000. Institutional investors own 99.34% of the company's stock.

Brunswick Company Profile

Brunswick Corporation NYSE: BC is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.

The company's marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.

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