In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Brunswick Corporation (BC), with a price target of $71. The company’s shares closed yesterday at $48.50.
Wold commented:
“Before the open on Corporation (BC) reported 1Q19 results that came in below expectations on the slower start to the boat season—with poor weather adversely impacting the “value” segment and aftermarket P&A sales. Although management is optimistic that trends are beginning to improve into the key season, delayed purchases will be made up in later quarters and engine registrations are a more accurate indicator of underlying demand, management took the opportunity that lower tariff headwinds provided to reduce marine segment growth projections for the year to keep EPS guidance unchanged (and provide an opportunity for upside should trends improve into the key boating season).”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.9% and a 38.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Brunswick Corporation is a Strong Buy with an average price target 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.
