Northcoast Research reissued their buy rating on shares of Briggs & Stratton (NYSE:BGG) in a report released on Friday morning. Northcoast Research currently has a $25.00 target price on the industrial products company’s stock. Northcoast Research also issued estimates for Briggs & Stratton’s Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.28 EPS, Q4 2019 earnings at $0.58 EPS and FY2019 earnings at $1.59 EPS.
Several other research analysts have also recently weighed in on BGG. Zacks Investment Research cut shares of Briggs & Stratton from a hold rating to a sell rating in a report on Thursday, April 26th. ValuEngine cut shares of Briggs & Stratton from a hold rating to a sell rating in a report on Friday, April 27th. Finally, Sidoti cut shares of Briggs & Stratton from a buy rating to a neutral rating and set a $17.00 price target on the stock. in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Briggs & Stratton currently has a consensus rating of Hold and a consensus price target of $24.75.
Shares of NYSE BGG opened at $20.12 on Friday. The stock has a market cap of $733.42 million, a PE ratio of 15.36 and a beta of 0.64. Briggs & Stratton has a 1 year low of $16.26 and a 1 year high of $27.34. The company has a quick ratio of 0.71, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.
Briggs & Stratton (NYSE:BGG) last released 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. Briggs & Stratton had a net margin of 1.09% and a return on equity of 10.11%. The business had revenue of $501.69 million for the quarter, compared to analysts’ expectations of $495.83 million. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. research analysts anticipate that Briggs & Stratton will post 1.3 EPS for the current fiscal year.
The business 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 $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Monday, September 17th. Briggs & Stratton’s dividend payout ratio is 42.75%.
Briggs & Stratton announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its position in Briggs & Stratton by 90.6% in the second quarter. Millennium Management LLC now owns 158,459 shares of the industrial products company’s stock worth $2,790,000 after acquiring an additional 75,336 shares during the period. Alambic Investment Management L.P. bought a new stake in Briggs & Stratton in the second quarter worth about $1,243,000. OppenheimerFunds Inc. raised its position in Briggs & Stratton by 22.1% in the second quarter. OppenheimerFunds Inc. now owns 62,261 shares of the industrial products company’s stock worth $1,096,000 after acquiring an additional 11,279 shares during the period. Renaissance Technologies LLC bought a new stake in Briggs & Stratton in the second quarter worth about $1,113,000. Finally, Brandes Investment Partners LP raised its position in Briggs & Stratton by 25.1% in the second quarter. Brandes Investment Partners LP now owns 2,529,341 shares of the industrial products company’s stock worth $44,541,000 after acquiring an additional 508,224 shares during the period. 81.72% of the stock is currently 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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