Briggs & Stratton (BGG) Upgraded to Market Perform at Citigroup

Citigroup upgraded shares of Briggs & Stratton (NYSE:BGG) to a market perform rating in a report published on Tuesday morning, The Fly reports. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Briggs & Stratton from a hold rating to a buy rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Briggs & Stratton from a strong sell rating to a hold rating in a research report on Tuesday, October 17th. Robert W. Baird reiterated a hold rating and set a $26.00 price objective on shares of Briggs & Stratton in a research report on Tuesday, January 9th. Finally, Raymond James Financial reiterated an underperform rating on shares of Briggs & Stratton in a research report on Tuesday, October 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $27.33.

Briggs & Stratton (NYSE:BGG) opened at $27.12 on Tuesday. Briggs & Stratton has a 52-week low of $20.00 and a 52-week high of $27.12. The firm has a market capitalization of $1,139.71, a price-to-earnings ratio of 21.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.82 and a quick ratio of 0.70.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.08. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. The business had revenue of $329.10 million during the quarter, compared to analysts’ expectations of $295.84 million. During the same quarter last year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. sell-side analysts forecast that Briggs & Stratton will post 1.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, December 14th. Briggs & Stratton’s payout ratio is 43.75%.

In related news, SVP David J. Rodgers sold 18,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $24.28, for a total transaction of $437,040.00. Following the sale, the senior vice president now directly owns 118,383 shares in the company, valued at approximately $2,874,339.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Andrea L. Golvach sold 19,174 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $25.20, for a total value of $483,184.80. Following the sale, the vice president now owns 27,197 shares in the company, valued at $685,364.40. The disclosure for this sale can be found here. Insiders sold a total of 97,174 shares of company stock worth $2,360,825 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Briggs & Stratton during the 4th quarter valued at about $148,000. Alpha Windward LLC purchased a new stake in Briggs & Stratton during the 4th quarter worth approximately $530,000. Schwab Charles Investment Management Inc. increased its holdings in Briggs & Stratton by 2.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 415,592 shares of the industrial products company’s stock worth $10,544,000 after purchasing an additional 8,394 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Briggs & Stratton by 43.0% during the 3rd quarter. GSA Capital Partners LLP now owns 24,503 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 7,366 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Briggs & Stratton by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 173,906 shares of the industrial products company’s stock worth $4,087,000 after purchasing an additional 3,606 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

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About Briggs & Stratton

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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