After Longbow Research and SunTrust Robinson gave Brunswick Corporation (NYSE: BC) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Eric Wold maintained a Buy rating on Brunswick Corporation today and set a price target of $71. The company’s shares opened today at $52.48.
Wold commented:
“We are not making any changes to our model at this point—which still includes the fitness business—and will do so once the transaction has been completed. However, note that the company’s 2019 guidance for the marine operations is for revenue growth of 8-10% (vs. a projected revenue decline for the fitness business), improving gross and operating margins as well as diluted EPS of $4.50-4.70 (vs. $4.13 in 2018 on an apples-to-apples basis). And given that our PT of $71 assumes a valuation for the fitness business of ~$500M, we would not expect any changes to our underlying valuation thoughts, but with a clearer path towards achieving that valuation.”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -3.2% and a 41.9% 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 $64.29, which is a 22.5% upside from current levels. In a report issued on April 26, Longbow Research also maintained a Buy rating on the stock with a $68 price target.
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Brunswick Corporation’s market cap is currently $4.58B and has a P/E ratio of 30.17. The company has a Price to Book ratio of 2.89.
Based on the recent corporate insider activity of 79 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.
