In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Brunswick Corporation (BC), with a price target of $84. The company’s shares closed on Friday at $52.78.
Wold commented:
“Brunswick Corporation (BC) is scheduled to report 1Q19 results before the open on Thursday, 4/25, with a conference call at 11:00am ET. As BC will be the first major company within the recreational marine segment to report quarterly results, we believe solid 1Q19 results and an unchanged/positive outlook for the year should help to offset some of the investor concerns that have materialized since last fall—especially with our channel checks during/around the recent boat show season indicating continued strength in underlying boat-buying demand and attractive industry-wide metrics around inventory, promotional activity and used boat inventory.”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -4.4% and a 41.5% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Brunswick Corporation has an analyst consensus of Strong Buy, with a price target consensus of $68.
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Based on Brunswick Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $41.2 million. In comparison, last year the company had a net profit of $72.9 million.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock.
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Brunswick Corp. engages in the design, manufacture, and marketing of recreation products, including marine engines, boats, fitness equipment, and active recreation products. It operates through the following segments: Marine Engine, Boat, and Fitness. The Marine segment manufactures and sells recreational marine engines and marine parts and accessories.
