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

Brunswick Co. (NYSE:BC)’s stock price gapped down prior to trading 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 trading hands.

Other analysts have also recently issued reports about the company. Morgan Stanley cut their price target on Brunswick from $78.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. DA Davidson decreased their target price on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus decreased their price target on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Roth Mkm lowered their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Finally, B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.54.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Brunswick

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

Brunswick Trading Down 3.4 %

The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average is $71.33 and its two-hundred day moving average is $76.82. The firm has a market cap of $4.49 billion, a P/E ratio of 16.94 and a beta of 1.54.

Brunswick Company Profile

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.