Briggs & Stratton (NYSE:BGG) had its price target dropped by equities researchers at Sidoti from $19.00 to $16.00 in a report released on Thursday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Sidoti’s price objective suggests a potential upside of 14.04% from the stock’s current price.
A number of other equities research analysts also recently issued reports on BGG. ValuEngine downgraded shares of Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Northcoast Research set a $25.00 price target on shares of Briggs & Stratton and gave the company a “buy” rating in a research note on Friday, September 28th. Finally, Zacks Investment Research downgraded shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, four have 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 price target of $20.50.
Shares of BGG stock opened at $14.03 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.39. Briggs & Stratton has a 12 month low of $13.33 and a 12 month high of $27.34. The stock has a market cap of $616.33 million, a price-to-earnings ratio of 10.88 and a beta of 1.02.
Briggs & Stratton (NYSE:BGG) last issued its earnings results on Thursday, October 25th. The industrial products company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). Briggs & Stratton had a positive return on equity of 8.46% and a negative net margin of 2.04%. The firm had revenue of $279.00 million for the quarter, compared to analysts’ expectations of $297.80 million. On average, research analysts anticipate that Briggs & Stratton will post 1.46 EPS for the current fiscal year.
In related news, Director Frank M. Jaehnert purchased 5,000 shares of Briggs & Stratton stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $13.73 per share, with a total value of $68,650.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $205,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.30% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in BGG. Piedmont Investment Advisors LLC purchased a new stake in shares of Briggs & Stratton in the 2nd quarter valued at approximately $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Briggs & Stratton during the 3rd quarter worth approximately $195,000. Commonwealth Equity Services LLC purchased a new stake in Briggs & Stratton during the 2nd quarter worth approximately $257,000. Bank of Montreal Can purchased a new stake in Briggs & Stratton during the 2nd quarter worth approximately $271,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Briggs & Stratton during the 3rd quarter worth approximately $274,000. 83.59% of the stock is currently owned by institutional investors and hedge funds.
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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