Truist Financial Issues Pessimistic Forecast for Brunswick (NYSE:BC) Stock Price

Brunswick (NYSE:BC) had its target price lowered by Truist Financial from $90.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 30.49% from the company’s current price.

BC has been the topic of several other research reports. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Citigroup lifted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Brunswick has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Brunswick Price Performance

Shares of BC stock opened at $65.14 on Tuesday. The company has a market capitalization of $4.30 billion, a P/E ratio of 16.20 and a beta of 1.54. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Brunswick has a 12 month low of $63.08 and a 12 month high of $96.65. The stock has a 50 day moving average of $75.13 and a two-hundred day moving average of $77.18.

Insider Buying and Selling at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of the business’s 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. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brunswick

Hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Brunswick by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock valued at $152,577,000 after acquiring an additional 144,416 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Brunswick by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after acquiring an additional 102,780 shares in the last quarter. American Century Companies Inc. increased its stake in Brunswick by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after buying an additional 168,384 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.