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

Brunswick (NYSE:BC) had its price objective dropped by investment analysts at Truist Financial from $90.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 30.49% from the stock’s current price.

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

Brunswick Stock Performance

Shares of BC opened at $65.14 on Tuesday. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 16.20 and a beta of 1.54. The firm has a fifty day simple moving average of $75.13 and a 200 day simple moving average of $77.18. 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.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were 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 $20,142,760.68. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the sale, the director now owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after purchasing an additional 102,780 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brunswick by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after purchasing an additional 28,781 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Brunswick by 50.2% during the third quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock worth $57,328,000 after purchasing an additional 228,662 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Brunswick by 2.5% in the third quarter. Franklin Resources Inc. now owns 233,128 shares of the company’s stock valued at $19,394,000 after buying an additional 5,604 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in Brunswick by 12.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,387 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

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.