Briggs & Stratton Corporation (BGG) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Briggs & Stratton Corporation (NYSE:BGG) from a strong sell rating to a hold rating in a research note released on Tuesday, October 17th.

According to Zacks, “Briggs & Stratton Corp. is one of the world’s largest producers of air cooled gasoline engines for outdoor power equipment. The company designs, manufactures, markets and services these products for original equipment manufacturers worldwide. These engines are primarily aluminum alloy gasoline engines. “

A number of other research analysts have also commented on BGG. BidaskClub lowered Briggs & Stratton Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. ValuEngine upgraded Briggs & Stratton Corporation from a hold rating to a buy rating in a research report on Tuesday, September 26th. Finally, Raymond James Financial, Inc. reiterated an underperform rating on shares of Briggs & Stratton Corporation in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $25.50.

Shares of Briggs & Stratton Corporation (NYSE:BGG) opened at 24.58 on Tuesday. The company’s 50 day moving average is $23.15 and its 200-day moving average is $23.35. Briggs & Stratton Corporation has a 1-year low of $17.90 and a 1-year high of $25.92. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 18.76 and a beta of 0.72.

Briggs & Stratton Corporation (NYSE:BGG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.08. The firm had revenue of $329.10 million for the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton Corporation had a return on equity of 11.38% and a net margin of 3.05%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned ($0.34) EPS. Equities analysts anticipate that Briggs & Stratton Corporation will post $1.45 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.28%. Briggs & Stratton Corporation’s dividend payout ratio is currently 43.75%.

In other Briggs & Stratton Corporation news, SVP William H. Reitman sold 7,000 shares of Briggs & Stratton Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total transaction of $144,830.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Todd J. Teske sold 5,830 shares of Briggs & Stratton Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $20.68, for a total value of $120,564.40. Following the transaction, the insider now owns 379,417 shares in the company, valued at $7,846,343.56. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BGG. First Trust Advisors LP raised its stake in shares of Briggs & Stratton Corporation by 1.3% in the 1st quarter. First Trust Advisors LP now owns 68,925 shares of the industrial products company’s stock valued at $1,547,000 after purchasing an additional 898 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Briggs & Stratton Corporation by 87.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 21,907 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 10,209 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Briggs & Stratton Corporation in the 1st quarter valued at about $257,000. Ameriprise Financial Inc. raised its stake in shares of Briggs & Stratton Corporation by 4.4% in the 1st quarter. Ameriprise Financial Inc. now owns 227,888 shares of the industrial products company’s stock valued at $5,116,000 after purchasing an additional 9,572 shares during the period. Finally, Mason Street Advisors LLC raised its stake in shares of Briggs & Stratton Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,010 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 655 shares during the period. 82.87% of the stock is currently owned by hedge funds and other institutional investors.

About Briggs & Stratton Corporation

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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