Brunswick Corporation (BC): Is It Time To Start A Correction

The stock of Brunswick Corporation (NYSE:BC) has been Upgraded to Buy from Hold by Jefferies in its latest research note that was published on September 04. BC was given a price target of $60 by Jefferies, with other Wall Street analysts also giving their reports regarding the stock. JP Morgan analysts have downgraded their rating of BC stock from Overweight to Neutral in a separate flash note to investors on July 22. Analysts at RBC Capital Mkts downgraded the stock to a Sector Perform call from its previous Outperform stance, in a research note that dated back to July 01.

Brunswick Corporation, which has current market capitalization of above $5 Billion, published its last quarter earnings on June 30, 2019.

BC surged by $0.45 during the normal trading session on Thursday and reaching a high of $54.75 during the day while it closed the day at $53.83. The Brunswick stock had a low trading volume of 1.12 million shares on that day, which is low compared to the average daily volume of 1.26M shares. BC has also gained 9.01% of its value over the past 7 days. However, the stock has surged by 20.72% in the 3 months of the year. Over the past six months meanwhile, it has gained 1.64% while it has added 15.89% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -1.68% from its 3 months high price. However, taking another look at BC will indicate that it is trading +26.45% away from its 90-day low. Looking at the bigger picture, the Brunswick Corporation stock has dropped by -22.9% from its 52-week high while it has surged by +31.23% from its 52-week low price.

On March 15, 2019 Tanner Daniel J., Vice President and Controller sold 3373 shares of the company. The average price for that transaction was $53.28 per share, which meant that Tanner Daniel J. earned $179713.4 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with V.P. GEN COUNSEL & SECRETARY, Dekker Christopher F selling 1599 shares of this stock on February 14, 2019. The average selling price for the stock was $49.94 per share, with the sold stock accruing $79854.06. Following this transaction, the V.P. GEN COUNSEL & SECRETARY Dekker Christopher F now holds 34585 shares of the company, which is worth around $1877966.

Brunswick has around 668 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $1 Trillion. The Brunswick stock is bringing in revenue of over 12 months, which is roughly 328 Billion. Despite all that, Brunswick Corporation is seeing things progressing very much as their y-o-y quarterly revenue surged by 16.64%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 92.45%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 92.45%. Over the past 20 days, Brunswick’s Stochastic %K stood at 97.01% while its Stochastic %D was revealed to be 97.74%.