B.Riley FBR analyst Eric Wold maintained a Buy rating on Brunswick Corporation (BC) today and set a price target of $71. The company’s shares closed on Friday at $46.14.
Wold said:
“Brunswick Corporation (BC) is scheduled to report 2Q19 results before the open on a conference call at 11:00am ET. Ahead of the print, we are lowering our 2Q19 and full-year 2019 and 2020 estimates to account for the completed sale of the fitness business as well as an assumed delay in wholesale shipments into the channel given the later-than-usual start to the boat selling season ( due, we believe, to poor weather conditions). When we added BC to the B. Riley FBR 6/17, we acknowledged the potential for lower- than-expected OEM boat shipments during 2Q as our checks indicted that channel inventory levels were adequate to handle current sales trends.”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.9% and a 33.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Brunswick Corporation with a $60.83 average price target, implying a 31.8% upside from current levels. In a report issued on July 2, Wedbush also maintained a Buy rating on the stock with a $53 price target.
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Brunswick Corporation’s market cap is currently $4.02B and has a P/E ratio of 26.37. The company has a Price to Book ratio of 2.63.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BC in relation to earlier this year.
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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.
