Brunswick Corp. (NYSE:BC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
Other research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Brunswick Corp. in a report on Saturday, July 2nd. Imperial Capital assumed coverage on Brunswick Corp. in a report on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price objective on the stock. Robert W. Baird reissued an “outperform” rating on shares of Brunswick Corp. in a report on Saturday, June 25th. Off Wall Street assumed coverage on Brunswick Corp. in a report on Monday, July 18th. They issued a “sell” rating on the stock. Finally, B. Riley reissued a “buy” rating and issued a $65.00 price objective on shares of Brunswick Corp. in a report on Saturday, August 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Brunswick Corp. has a consensus rating of “Buy” and an average price target of $56.69.
Brunswick Corp. (NYSE:BC) opened at 48.11 on Friday. The stock has a market capitalization of $4.34 billion, a PE ratio of 18.72 and a beta of 1.98. Brunswick Corp. has a 12-month low of $36.05 and a 12-month high of $55.65. The company has a 50-day moving average price of $47.56 and a 200-day moving average price of $47.65.
Brunswick Corp. (NYSE:BC) last announced its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts expect that Brunswick Corp. will post $3.48 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in BC. Oregon Public Employees Retirement Fund increased its position in Brunswick Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 31,541 shares of the company’s stock valued at $1,539,000 after buying an additional 625 shares during the period. New England Research & Management Inc. purchased a new position in Brunswick Corp. during the third quarter valued at $268,000. Mason Street Advisors LLC purchased a new position in Brunswick Corp. during the second quarter valued at $1,873,000. Public Employees Retirement System of Ohio increased its position in Brunswick Corp. by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 69,553 shares of the company’s stock valued at $3,152,000 after buying an additional 962 shares during the period. Finally, Calvert Investment Management Inc. increased its position in Brunswick Corp. by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 59,230 shares of the company’s stock valued at $2,684,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.
Brunswick Corp. Company Profile
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brunswick Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick Corp. and related companies with MarketBeat.com's FREE daily email newsletter.