Shares of Briggs & Stratton (NYSE:BGG) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.00.
BGG has been the topic of a number of analyst reports. Robert W. Baird reaffirmed a “hold” rating and set a $26.00 target price on shares of Briggs & Stratton in a research note on Tuesday, January 9th. Zacks Investment Research downgraded shares of Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Raymond James Financial raised shares of Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 16th. Citigroup raised shares of Briggs & Stratton to a “market perform” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.
In other Briggs & Stratton news, CEO Todd J. Teske sold 26,573 shares of Briggs & Stratton stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $22.97, for a total transaction of $610,381.81. Following the completion of the sale, the chief executive officer now directly owns 381,604 shares in the company, valued at $8,765,443.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd J. Teske sold 5,410 shares of Briggs & Stratton stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $22.55, for a total transaction of $121,995.50. Following the sale, the insider now owns 378,997 shares of the company’s stock, valued at $8,546,382.35. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in shares of Briggs & Stratton during the fourth quarter valued at about $148,000. KLCM Advisors Inc. acquired a new stake in shares of Briggs & Stratton during the fourth quarter valued at about $213,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Briggs & Stratton during the fourth quarter valued at about $259,000. SG Americas Securities LLC increased its position in shares of Briggs & Stratton by 41.4% during the third quarter. SG Americas Securities LLC now owns 11,538 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 3,381 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Briggs & Stratton during the fourth quarter valued at about $374,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
BGG stock traded up $0.19 during trading on Tuesday, reaching $20.96. 187,080 shares of the stock were exchanged, compared to its average volume of 329,053. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.68 and a quick ratio of 0.64. Briggs & Stratton has a 1 year low of $20.00 and a 1 year high of $27.34. The company has a market capitalization of $876.26, a PE ratio of 16.00 and a beta of 0.67.
Briggs & Stratton (NYSE:BGG) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Briggs & Stratton had a net margin of 1.31% and a return on equity of 10.25%. The company had revenue of $446.00 million for the quarter, compared to the consensus estimate of $424.00 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Briggs & Stratton’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that Briggs & Stratton will post 1.53 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Thursday, March 15th. Briggs & Stratton’s dividend payout ratio (DPR) is presently 42.75%.
About Briggs & Stratton
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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