JPMorgan Chase & Co. Raises Brunswick (NYSE:BC) Price Target to $83.00

Key Points

• JPMorgan Chase raised its price target on Brunswick from $78 to $83 and kept a "neutral" rating, implying roughly a 4.3% upside from the prior close.
• Analyst coverage is mixed with an average rating of "Hold" and an average price target of $86.71 (1 Strong Buy, 6 Buy, 7 Hold, 1 Sell).
• Brunswick's latest quarter showed $0.58 EPS (in line with estimates) and $1.33B revenue (a 15.5% YoY beat), but the company still reported a negative net margin and a negative P/E.

Brunswick (NYSE:BC - Get Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $78.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 4.31% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Benchmark lifted their price target on Brunswick from $75.00 to $90.00 and gave the company a "buy" rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brunswick in a report on Friday, March 27th. Wall Street Zen cut Brunswick from a "buy" rating to a "hold" rating in a report on Saturday. Texas Capital raised shares of Brunswick from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Finally, Citigroup increased their price target on shares of Brunswick from $100.00 to $101.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Brunswick presently has an average rating of "Hold" and an average price target of $86.71.

Brunswick Price Performance

BC stock traded down $0.62 during trading on Tuesday, hitting $79.57. 253,746 shares of the stock traded hands, compared to its average volume of 977,787. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of -37.50 and a beta of 1.38. Brunswick has a one year low of $44.40 and a one year high of $90.25. The company has a 50 day simple moving average of $76.73 and a 200 day simple moving average of $75.20. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, hitting analysts' consensus estimates of $0.58. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.Brunswick's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. Equities analysts expect 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 company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer owned 271,169 shares in the company, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher F. Dekker sold 4,981 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president owned 39,740 shares of the company's stock, valued at $3,472,481.20. The trade was a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brunswick

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BC. Allianz Asset Management GmbH increased its stake in Brunswick by 191.0% in the third quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company's stock valued at $13,543,000 after purchasing an additional 140,566 shares in the last quarter. Interval Partners LP increased its stake in Brunswick by 268.6% in the third quarter. Interval Partners LP now owns 521,401 shares of the company's stock valued at $32,973,000 after purchasing an additional 379,937 shares in the last quarter. Perbak Capital Partners LLP bought a new stake in Brunswick in the third quarter valued at approximately $1,339,000. Federated Hermes Inc. increased its stake in Brunswick by 26.0% in the third quarter. Federated Hermes Inc. now owns 824,181 shares of the company's stock valued at $52,121,000 after purchasing an additional 170,030 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Brunswick by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company's stock valued at $221,003,000 after purchasing an additional 11,777 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.