Brunswick Corporation (NYSE: BC) received an upgrade from StockNews.com, changing its rating from “hold” to “buy” in a research note released on Wednesday. The company has also been the subject of several other research reports, some of which have downgraded its rating.
A research note by JPMorgan Chase & Co. downgraded Brunswick from “overweight” to “neutral” and decreased its target price from $109.00 to $79.00. Raymond James reduced the price target to $88.00 and maintained an “outperform” rating. Morgan Stanley initiated coverage on Brunswick, giving it an “equal weight” rating and setting a target price of $84.00.
Despite these mixed views, Brunswick has a consensus rating of “Moderate Buy” and an average price target of $95.73, according to MarketBeat.com. Shares of Brunswick opened at $76.10 on Wednesday, with a 50-day moving average of $79.86 and a 200-day moving average of $81.57. The company has a market cap of $5.38 billion and a beta of 1.53.
In its most recent quarterly earnings report, Brunswick exceeded the consensus estimate of $2.32 earnings per share (EPS) with $2.35 EPS. However, its revenue for the quarter of $1.70 billion was below the consensus estimate of $1.75 billion. The company’s net margin was 8.21% and its return on equity was 33.86%.
Institutional Inflows and Outflows
Recent activity by hedge funds indicates interest in Brunswick. Ruedi Wealth Management purchased a new stake in the company, while Rockefeller Capital Management increased its position by 104.7% during the fourth quarter. Fred Alger Management also acquired a new stake in the first quarter, followed by Bartlett & Co. increasing its holdings by 246.7% in the second quarter. Institutional investors collectively own 94.44% of Brunswick’s stock.
Brunswick Corporation is a global provider of recreation products, operating through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment offers engines for boat builders and governments, as well as related controls and propellers. The company’s stock performance and financial data were reviewed by MarketBeat’s editorial team prior to publication.
Source: MarketBeat.com
Definitions:
– Research note: A report created by financial analysts providing their opinions and recommendations on a particular stock.
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– Hedge funds: Investment funds that pool capital from accredited individuals or institutional investors and invest in a variety of assets, with the goal of generating high returns.
– Beta: A measure of a stock’s volatility compared to the overall market.
– Propulsion: Refers to the system that provides power to a boat or other watercraft, typically through engines.
– Parts & Accessories: Components and supplementary items that enhance or repair a product.
– Stock performance: The change in a stock’s price over a period of time, which can be positive or negative.
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Sources: MarketBeat.com