ValuEngine Lowers Briggs & Stratton Corporation (BGG) to Hold

ValuEngine downgraded shares of Briggs & Stratton Corporation (NYSE:BGG) from a buy rating to a hold rating in a report released on Friday morning.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Briggs & Stratton Corporation from a hold rating to a strong sell rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Briggs & Stratton Corporation from a strong sell rating to a sell rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $25.50.

Shares of Briggs & Stratton Corporation (NYSE BGG) opened at 23.80 on Friday. Briggs & Stratton Corporation has a 12-month low of $17.90 and a 12-month high of $25.92. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 18.17 and a beta of 0.72. The stock’s 50 day moving average is $21.97 and its 200 day moving average is $23.13.

Briggs & Stratton Corporation (NYSE:BGG) last issued its earnings results on Wednesday, August 16th. The industrial products company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $537.82 million. Briggs & Stratton Corporation had a net margin of 3.17% and a return on equity of 11.24%. Briggs & Stratton Corporation’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities analysts expect that Briggs & Stratton Corporation will post $1.38 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “ValuEngine Lowers Briggs & Stratton Corporation (BGG) to Hold” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/09/valuengine-lowers-briggs-stratton-corporation-bgg-to-hold.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 14th. Briggs & Stratton Corporation’s dividend payout ratio is 43.08%.

In related news, insider Todd J. Teske sold 5,830 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the transaction, the insider now directly owns 379,417 shares in the company, valued at approximately $7,846,343.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William H. Reitman sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total transaction of $144,830.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its position in Briggs & Stratton Corporation by 1.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 180 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Briggs & Stratton Corporation by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 49,530 shares of the industrial products company’s stock worth $1,111,000 after purchasing an additional 205 shares in the last quarter. Texas Permanent School Fund increased its position in Briggs & Stratton Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 31,232 shares of the industrial products company’s stock worth $753,000 after purchasing an additional 239 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Briggs & Stratton Corporation by 3.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 263 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Briggs & Stratton Corporation by 1.4% during the 1st quarter. Arizona State Retirement System now owns 22,333 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Briggs & Stratton Corporation Company Profile

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Briggs & Stratton Corporation from a hold rating to a strong sell rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Briggs & Stratton Corporation from a strong sell rating to a sell rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $25.50.

Shares of Briggs & Stratton Corporation (NYSE BGG) opened at 23.80 on Friday. Briggs & Stratton Corporation has a 12-month low of $17.90 and a 12-month high of $25.92. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 18.17 and a beta of 0.72. The stock’s 50 day moving average is $21.97 and its 200 day moving average is $23.13.

Briggs & Stratton Corporation (NYSE:BGG) last issued its earnings results on Wednesday, August 16th. The industrial products company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $537.82 million. Briggs & Stratton Corporation had a net margin of 3.17% and a return on equity of 11.24%. Briggs & Stratton Corporation’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities analysts expect that Briggs & Stratton Corporation will post $1.38 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “ValuEngine Lowers Briggs & Stratton Corporation (BGG) to Hold” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/09/valuengine-lowers-briggs-stratton-corporation-bgg-to-hold.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 14th. Briggs & Stratton Corporation’s dividend payout ratio is 43.08%.

In related news, insider Todd J. Teske sold 5,830 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the transaction, the insider now directly owns 379,417 shares in the company, valued at approximately $7,846,343.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William H. Reitman sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total transaction of $144,830.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its position in Briggs & Stratton Corporation by 1.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 180 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Briggs & Stratton Corporation by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 49,530 shares of the industrial products company’s stock worth $1,111,000 after purchasing an additional 205 shares in the last quarter. Texas Permanent School Fund increased its position in Briggs & Stratton Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 31,232 shares of the industrial products company’s stock worth $753,000 after purchasing an additional 239 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Briggs & Stratton Corporation by 3.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 263 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Briggs & Stratton Corporation by 1.4% during the 1st quarter. Arizona State Retirement System now owns 22,333 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Briggs & Stratton Corporation 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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