Briggs & Stratton Co. (BGG) Receives $22.67 Consensus Price Target from Brokerages

Briggs & Stratton Co. (NYSE:BGG) has been assigned an average rating of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $20.75.

Several research firms recently weighed in on BGG. Northcoast Research restated a “buy” rating and issued a $25.00 price objective on shares of Briggs & Stratton in a research report on Friday, August 17th. ValuEngine cut shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research upgraded shares of Briggs & Stratton from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Sidoti cut shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research report on Thursday, July 19th.

In other Briggs & Stratton news, insider Todd J. Teske sold 87,398 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $20.91, for a total transaction of $1,827,492.18. Following the completion of the sale, the insider now owns 453,723 shares in the company, valued at approximately $9,487,347.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank M. Jaehnert bought 5,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were acquired at an average price of $13.73 per share, with a total value of $68,650.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $205,950. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

Several institutional investors have recently modified their holdings of BGG. Northern Trust Corp increased its position in shares of Briggs & Stratton by 0.4% in the 2nd quarter. Northern Trust Corp now owns 902,584 shares of the industrial products company’s stock valued at $15,894,000 after buying an additional 3,686 shares in the last quarter. Aperio Group LLC increased its position in shares of Briggs & Stratton by 32.3% in the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the industrial products company’s stock valued at $309,000 after buying an additional 4,286 shares in the last quarter. Legal & General Group Plc increased its position in shares of Briggs & Stratton by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 94,257 shares of the industrial products company’s stock valued at $1,657,000 after buying an additional 4,542 shares in the last quarter. Foundry Partners LLC increased its position in shares of Briggs & Stratton by 2.3% in the 3rd quarter. Foundry Partners LLC now owns 238,552 shares of the industrial products company’s stock valued at $4,587,000 after buying an additional 5,462 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its position in shares of Briggs & Stratton by 6.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 95,904 shares of the industrial products company’s stock valued at $1,689,000 after buying an additional 5,899 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

BGG stock traded up $0.39 during trading on Friday, hitting $14.92. The company had a trading volume of 20,548 shares, compared to its average volume of 392,007. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.44. Briggs & Stratton has a 12 month low of $13.33 and a 12 month high of $27.34. The stock has a market capitalization of $585.37 million, a PE ratio of 11.41 and a beta of 0.65.

Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $279.00 million during the quarter, compared to the consensus estimate of $297.80 million. As a group, equities analysts expect that Briggs & Stratton will post 1.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, December 17th. Briggs & Stratton’s payout ratio is 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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Analyst Recommendations for Briggs & Stratton (NYSE:BGG)

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