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

Brunswick Co. (NYSE:BC)’s stock price gapped down before the market opened 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 changing hands.

A number of other brokerages also recently issued reports on BC. Roth Mkm reduced their price target on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 24th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Truist Financial lowered their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, Stifel Nicolaus lowered their price target on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.54.

Insider Transactions at Brunswick

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

Institutional Investors Weigh In On Brunswick

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in Brunswick during the third quarter worth about $26,000. Armstrong Advisory Group Inc. purchased a new position in Brunswick during the fourth quarter worth about $39,000. Avior Wealth Management LLC grew its stake in shares of Brunswick by 1,073.7% in the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after buying an additional 612 shares during the period. Covestor Ltd increased its holdings in shares of Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after buying an additional 843 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after buying an additional 555 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 17.07 and a beta of 1.54. The firm has a 50 day simple moving average of $71.11 and a 200-day simple moving average of $76.76.

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.