Briggs & Stratton (NYSE:BGG) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Briggs & Stratton from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Sidoti cut shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Briggs & Stratton presently has a consensus rating of “Hold” and a consensus target price of $24.75.
Shares of BGG opened at $20.12 on Friday. The company has a market cap of $733.42 million, a PE ratio of 15.36 and a beta of 0.64. Briggs & Stratton has a twelve month low of $16.26 and a twelve month high of $27.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 0.71.
Briggs & Stratton (NYSE:BGG) last issued its quarterly earnings results on Wednesday, August 15th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $501.69 million during the quarter, compared to analysts’ expectations of $495.83 million. Briggs & Stratton had a net margin of 1.09% and a return on equity of 10.11%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. sell-side analysts expect that Briggs & Stratton will post 1.3 EPS for the current fiscal year.
Briggs & Stratton declared that its board has authorized a stock repurchase plan on Wednesday, April 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. grew its stake in shares of Briggs & Stratton by 11,438.5% in the second quarter. Whittier Trust Co. now owns 6,000 shares of the industrial products company’s stock valued at $123,000 after buying an additional 5,948 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Briggs & Stratton in the second quarter valued at $175,000. Fisher Asset Management LLC bought a new position in shares of Briggs & Stratton in the first quarter valued at $224,000. Fiduciary Trust Co. bought a new position in shares of Briggs & Stratton in the first quarter valued at $225,000. Finally, Jolley Asset Management LLC bought a new position in shares of Briggs & Stratton in the second quarter valued at $234,000. 81.72% of the stock is owned by institutional investors and hedge funds.
Briggs & Stratton Company Profile
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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