Briggs & Stratton (BGG) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of Briggs & Stratton (NYSE:BGG) from a hold rating to a sell rating in a research note published on Friday, ValuEngine reports.

Several other research firms have also issued reports on BGG. Robert W. Baird set a $14.00 price target on Briggs & Stratton and gave the company a hold rating in a report on Friday, January 25th. Zacks Investment Research lowered Briggs & Stratton from a hold rating to a strong sell rating in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $17.50.

Briggs & Stratton stock opened at $10.54 on Friday. The firm has a market cap of $443.29 million, a P/E ratio of 8.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.34 and a quick ratio of 0.50. Briggs & Stratton has a one year low of $10.15 and a one year high of $21.40.

Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Briggs & Stratton had a negative net margin of 2.54% and a positive return on equity of 4.22%. The firm had revenue of $580.20 million for the quarter, compared to analysts’ expectations of $575.35 million. During the same quarter last year, the company posted $0.84 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Briggs & Stratton will post 0.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.31%. The ex-dividend date is Tuesday, June 18th. Briggs & Stratton’s dividend payout ratio is presently 43.41%.

A number of large investors have recently added to or reduced their stakes in the business. Man Group plc bought a new stake in Briggs & Stratton during the first quarter valued at about $253,000. SEI Investments Co bought a new stake in Briggs & Stratton during the first quarter valued at about $30,000. Goldman Sachs Group Inc. grew its holdings in Briggs & Stratton by 15.3% during the first quarter. Goldman Sachs Group Inc. now owns 259,808 shares of the industrial products company’s stock valued at $3,073,000 after purchasing an additional 34,489 shares during the period. Wellington Management Group LLP grew its holdings in Briggs & Stratton by 59.1% during the first quarter. Wellington Management Group LLP now owns 222,463 shares of the industrial products company’s stock valued at $2,632,000 after purchasing an additional 82,642 shares during the period. Finally, Pinebridge Investments L.P. grew its holdings in Briggs & Stratton by 12.0% during the first quarter. Pinebridge Investments L.P. now owns 80,408 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 8,642 shares during the period. 84.27% of the stock is 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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