Briggs & Stratton (BGG) Rating Lowered to Hold at Zacks Investment Research

Briggs & Stratton (NYSE:BGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Briggs & Stratton Corporation is focused on providing power to get work done and make people’s lives better. Briggs & Stratton is the world’s largest producer of gasoline engines for outdoor power equipment, and is a leading designer, manufacturer and marketer of power generation, pressure washer, lawn and garden, turf care and job site products through its Briggs & Stratton, Simplicity, Snapper, Ferris, Vanguard, Allmand, Billy Goat, Murray, Branco and Victa brands. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. “

Other research analysts have also issued research reports about the company. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Raymond James Financial upgraded Briggs & Stratton from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 16th. Citigroup upgraded Briggs & Stratton to a “market perform” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated a “hold” rating and issued a $26.00 price target on shares of Briggs & Stratton in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.33.

Shares of Briggs & Stratton (NYSE:BGG) traded down $0.24 during trading on Tuesday, hitting $24.52. The company had a trading volume of 633,131 shares, compared to its average volume of 463,087. Briggs & Stratton has a 52 week low of $20.00 and a 52 week high of $27.34. The company has a current ratio of 1.68, a quick ratio of 0.64 and a debt-to-equity ratio of 0.42. The company has a market cap of $1,050.00, a price-to-earnings ratio of -32.69 and a beta of 0.78.

Briggs & Stratton (NYSE:BGG) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Briggs & Stratton had a return on equity of 10.25% and a net margin of 1.31%. The company had revenue of $446.00 million for the quarter, compared to analyst estimates of $424.00 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts predict that Briggs & Stratton will post 1.53 earnings per share for the current fiscal year.

In other news, insider Todd J. Teske sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $24.01, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP David J. Rodgers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $24.28, for a total value of $437,040.00. Following the completion of the transaction, the senior vice president now owns 118,383 shares in the company, valued at approximately $2,874,339.24. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of BGG. Schwab Charles Investment Management Inc. lifted its holdings in shares of Briggs & Stratton by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 383,865 shares of the industrial products company’s stock valued at $9,252,000 after purchasing an additional 26,004 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Briggs & Stratton by 1.2% during the second quarter. Teachers Advisors LLC now owns 84,641 shares of the industrial products company’s stock valued at $2,040,000 after acquiring an additional 965 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Briggs & Stratton by 13.9% during the second quarter. Nationwide Fund Advisors now owns 40,082 shares of the industrial products company’s stock valued at $966,000 after acquiring an additional 4,900 shares during the last quarter. BlackRock Inc. increased its position in shares of Briggs & Stratton by 15.8% during the second quarter. BlackRock Inc. now owns 6,559,290 shares of the industrial products company’s stock valued at $158,080,000 after acquiring an additional 892,989 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Briggs & Stratton by 6.9% during the second quarter. Thrivent Financial For Lutherans now owns 25,790 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 1,660 shares during the last quarter. Institutional investors own 83.10% of the company’s stock.

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Briggs & Stratton Company Profile

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

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