Briggs & Stratton Co. (NYSE:BGG) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.67.
A number of equities analysts recently commented on BGG shares. Northcoast Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Briggs & Stratton in a research note on Friday, August 17th. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. ValuEngine lowered Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Sidoti lowered Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research note on Thursday, July 19th.
In related news, insider Todd J. Teske sold 87,398 shares of Briggs & Stratton stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $20.91, for a total value of $1,827,492.18. Following the transaction, the insider now directly owns 453,723 shares of the company’s stock, valued at $9,487,347.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Briggs & Stratton by 59.7% in the first quarter. SG Americas Securities LLC now owns 11,272 shares of the industrial products company’s stock valued at $241,000 after buying an additional 4,212 shares during the period. Prudential Financial Inc. lifted its stake in Briggs & Stratton by 97.0% in the first quarter. Prudential Financial Inc. now owns 204,527 shares of the industrial products company’s stock valued at $4,379,000 after buying an additional 100,700 shares during the period. Swiss National Bank lifted its stake in Briggs & Stratton by 5.1% in the first quarter. Swiss National Bank now owns 74,600 shares of the industrial products company’s stock valued at $1,597,000 after buying an additional 3,600 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Briggs & Stratton by 4.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 433,985 shares of the industrial products company’s stock valued at $9,292,000 after buying an additional 18,393 shares during the period. Finally, Northern Trust Corp lifted its stake in Briggs & Stratton by 1.3% in the first quarter. Northern Trust Corp now owns 898,898 shares of the industrial products company’s stock valued at $19,245,000 after buying an additional 11,337 shares during the period. 82.47% of the stock is currently owned by institutional investors.
Shares of BGG stock traded down $0.21 during mid-day trading on Tuesday, reaching $18.98. 399,995 shares of the stock traded hands, compared to its average volume of 316,525. Briggs & Stratton has a 1-year low of $16.26 and a 1-year high of $27.34. The firm has a market capitalization of $815.11 million, a price-to-earnings ratio of 14.71 and a beta of 0.66. The company has a current ratio of 1.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings results on Wednesday, August 15th. The industrial products company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. Briggs & Stratton had a positive return on equity of 10.13% and a negative net margin of 0.60%. The firm had revenue of $501.69 million for the quarter, compared to analyst estimates of $495.83 million. During the same period last year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Briggs & Stratton will post 1.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, September 17th. Briggs & Stratton’s dividend payout ratio is currently 43.41%.
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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