Brunswick (NYSE:BC) Price Target Cut to $85.00 by Analysts at Citigroup

Brunswick (NYSE:BCFree Report) had its price objective lowered by Citigroup from $92.00 to $85.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages have also issued reports on BC. B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Truist Financial decreased their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Roth Mkm dropped their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, DA Davidson lowered their target price on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and a consensus price target of $82.54.

View Our Latest Stock Report on Brunswick

Brunswick Price Performance

NYSE:BC opened at $68.62 on Tuesday. Brunswick has a 12-month low of $62.64 and a 12-month high of $96.65. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 17.07 and a beta of 1.54. The company’s 50-day moving average is $71.11 and its two-hundred day moving average is $76.76. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Insider Transactions at Brunswick

In related 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 transaction, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Brunswick by 0.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,731 shares of the company’s stock worth $2,241,000 after buying an additional 145 shares in the last quarter. Inspire Investing LLC increased its position in shares of Brunswick by 2.8% during the third quarter. Inspire Investing LLC now owns 5,545 shares of the company’s stock worth $465,000 after acquiring an additional 153 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Brunswick by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company’s stock worth $390,000 after acquiring an additional 174 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Brunswick by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 9,861 shares of the company’s stock valued at $638,000 after purchasing an additional 190 shares during the last quarter. Finally, CWM LLC grew its stake in Brunswick by 21.6% during the 3rd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $111,000 after purchasing an additional 235 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

About Brunswick

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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.

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