Brunswick Co. (BC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Brunswick Co. (NYSE:BC) from a hold rating to a sell rating in a research note published on Friday, April 14th.

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. “

Several other research analysts also recently commented on the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $56.00 price objective on shares of Brunswick in a report on Friday, March 31st. BMO Capital Markets reaffirmed a buy rating and issued a $72.00 price objective on shares of Brunswick in a report on Monday, March 20th. Imperial Capital increased their target price on shares of Brunswick from $60.00 to $70.00 and gave the stock an outperform rating in a research note on Tuesday, January 31st. B. Riley reiterated a buy rating and issued a $72.00 target price on shares of Brunswick in a research note on Monday, January 30th. Finally, Royal Bank of Canada set a $65.00 target price on shares of Brunswick and gave the stock an outperform rating in a research note on Friday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Brunswick currently has a consensus rating of Buy and an average target price of $64.64.

Shares of Brunswick (NYSE:BC) traded up 1.57% during midday trading on Friday, hitting $55.44. The stock had a trading volume of 650,457 shares. The stock has a 50 day moving average price of $57.85 and a 200-day moving average price of $55.99. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 18.41 and a beta of 1.95. Brunswick has a 52 week low of $41.19 and a 52 week high of $61.74.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Brunswick had a net margin of 6.15% and a return on equity of 23.22%. During the same period last year, the firm earned $0.71 EPS. Equities research analysts anticipate that Brunswick will post $4.05 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 19th. Brunswick’s dividend payout ratio (DPR) is presently 22.07%.

In other Brunswick news, insider John C. Pfeifer sold 2,346 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $58.26, for a total value of $136,677.96. Following the sale, the insider now owns 44,488 shares of the company’s stock, valued at approximately $2,591,870.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in BC. James Investment Research Inc. bought a new stake in shares of Brunswick during the first quarter worth $145,000. Venturi Wealth Management LLC bought a new stake in shares of Brunswick during the first quarter worth $207,000. Envestnet Asset Management Inc. raised its stake in shares of Brunswick by 59.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock worth $240,000 after buying an additional 1,472 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Brunswick during the first quarter worth $271,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of Brunswick during the third quarter worth $278,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

About Brunswick

Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.

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