Brunswick (NYSE:BC) Given New $93.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Brunswick to $93.00 (from $92.00) and maintained a "buy" rating, implying roughly a 16.94% upside from the stock's current level.
• Analysts are mixed overall: MarketBeat reports a consensus "Hold" rating with an average target of $86.36, based on 1 Strong Buy, 6 Buy, 7 Hold and 1 Sell.
• Brunswick's latest quarter (Jan. 29) delivered $0.58 EPS (in line) and $1.33B in revenue (up 15.5% YoY), though the company still showed a negative net margin and a negative P/E.

Brunswick (NYSE:BC - Get Free Report) had its price objective upped by equities research analysts at Truist Financial from $92.00 to $93.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 16.94% from the stock's current price.

A number of other research analysts have also recently issued reports on BC. DA Davidson raised their price objective on Brunswick from $68.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, February 2nd. B. Riley Financial reissued a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Griffin Securities set a $76.00 price objective on Brunswick in a research note on Monday, February 2nd. Wolfe Research set a $90.00 price objective on Brunswick in a research note on Monday, January 12th. Finally, Citigroup increased their price objective on Brunswick from $100.00 to $101.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brunswick has a consensus rating of "Hold" and an average target price of $86.36.

Brunswick Stock Performance

NYSE BC opened at $79.53 on Monday. Brunswick has a 52-week low of $44.40 and a 52-week high of $90.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44. The company has a market capitalization of $5.18 billion, a P/E ratio of -37.51 and a beta of 1.38. The company has a fifty day moving average of $76.87 and a 200-day moving average of $75.07.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, meeting analysts' consensus estimates of $0.58. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the business earned $0.24 earnings per share. The business's quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts predict that Brunswick will post 4.26 EPS for the current fiscal year.

Insider Activity

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the firm'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 sale, the chief executive officer directly owned 271,169 shares in the company, valued at $23,472,388.64. This trade represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher F. Dekker sold 4,981 shares of the firm's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the sale, the vice president owned 39,740 shares of the company's stock, valued at $3,472,481.20. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.99% of the company's stock.

Institutional Trading of Brunswick

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of Brunswick by 10.7% during the first quarter. Royal Bank of Canada now owns 149,000 shares of the company's stock valued at $8,024,000 after purchasing an additional 14,395 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Brunswick by 133.6% during the first quarter. AQR Capital Management LLC now owns 77,326 shares of the company's stock valued at $4,076,000 after purchasing an additional 44,228 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Brunswick by 142.9% during the first quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company's stock valued at $18,659,000 after purchasing an additional 203,838 shares in the last quarter. United Services Automobile Association bought a new position in shares of Brunswick during the first quarter valued at approximately $214,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Brunswick by 477.0% during the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company's stock valued at $39,000 after purchasing an additional 601 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

About Brunswick

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.

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