Brunswick stock is riding an annual high

Posted on 11 March 2010

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In a burst of trading over the last week, Brunswick Corp.'s shares have soared almost 50 percent to a new 52-week high of $15.89 a share.

A presentation by Brunswick chief executive Dustan McCoy at a Raymond James investment conference this week helped ignite a fresh rally in the shares Wednesday, prodded along by Rochdale Securities analyst Hayley Wolff, who issued a note saying dealer inventories are historically low, according to a report by Chicago Breaking Business News.

"The boat market continues along the road to recovery, particularly on the wholesale side," Wolff wrote after a meeting with Brunswick management. "While retail sales remain in negative territory, retailers ... must increase orders."

Brunswick stock stood at $15.35 in early morning trading.

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