Briggs & Stratton Co. (NYSE:BGG) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.67.
Several research firms have weighed in on BGG. Northcoast Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Briggs & Stratton in a research report on Friday. ValuEngine raised Briggs & Stratton from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut Briggs & Stratton from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, Sidoti cut Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research report on Thursday, July 19th.
A number of institutional investors have recently bought and sold shares of the business. Green Square Capital LLC bought a new stake in shares of Briggs & Stratton in the 2nd quarter worth approximately $1,114,000. Millennium Management LLC boosted its position in shares of Briggs & Stratton by 90.6% in the 2nd quarter. Millennium Management LLC now owns 158,459 shares of the industrial products company’s stock worth $2,790,000 after purchasing an additional 75,336 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in shares of Briggs & Stratton in the 2nd quarter worth approximately $1,243,000. OppenheimerFunds Inc. boosted its position in shares of Briggs & Stratton by 22.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 62,261 shares of the industrial products company’s stock worth $1,096,000 after purchasing an additional 11,279 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Briggs & Stratton in the 2nd quarter worth approximately $1,113,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BGG traded up $0.84 during mid-day trading on Monday, reaching $20.96. 893,500 shares of the company’s stock traded hands, compared to its average volume of 324,256. Briggs & Stratton has a 12-month low of $16.26 and a 12-month high of $27.34. The company has a market cap of $733.42 million, a PE ratio of 16.00 and a beta of 0.64. 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 posted its quarterly earnings data on Wednesday, August 15th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The business had revenue of $501.69 million for the quarter, compared to analysts’ expectations of $495.83 million. Briggs & Stratton had a return on equity of 10.11% and a net margin of 1.09%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. analysts expect that Briggs & Stratton will post 1.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, September 17th. This represents a $0.56 annualized dividend and a yield of 2.67%. Briggs & Stratton’s payout ratio is 42.75%.
Briggs & Stratton announced that its board has authorized a stock buyback plan on Wednesday, April 25th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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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