ValuEngine upgraded shares of Briggs & Stratton (NYSE:BGG) from a strong sell rating to a sell rating in a report issued on Friday.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Briggs & Stratton from a sell rating to a hold rating in a report on Wednesday, June 27th. Sidoti lowered Briggs & Stratton from a buy rating to a neutral rating and set a $17.00 price objective on the stock. in a report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.75.

Briggs & Stratton stock opened at $20.96 on Friday. Briggs & Stratton has a 1 year low of $16.26 and a 1 year high of $27.34. The firm has a market capitalization of $733.42 million, a P/E ratio of 16.00 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.61.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Wednesday, August 15th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $501.69 million for the quarter, compared to analyst estimates of $495.83 million. Briggs & Stratton had a return on equity of 10.11% and a net margin of 1.09%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. analysts forecast that Briggs & Stratton will post 1.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be issued a $0.14 dividend. The ex-dividend date is Monday, September 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.67%. Briggs & Stratton’s payout ratio is currently 42.75%.

Briggs & Stratton declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in the business. Green Square Capital LLC purchased a new position in Briggs & Stratton in the 2nd quarter valued at $1,114,000. Millennium Management LLC raised its holdings in shares of Briggs & Stratton by 90.6% during the 2nd quarter. Millennium Management LLC now owns 158,459 shares of the industrial products company’s stock worth $2,790,000 after acquiring an additional 75,336 shares during the period. Alambic Investment Management L.P. purchased a new position in shares of Briggs & Stratton during the 2nd quarter worth $1,243,000. OppenheimerFunds Inc. raised its holdings in shares of Briggs & Stratton by 22.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 62,261 shares of the industrial products company’s stock worth $1,096,000 after acquiring an additional 11,279 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Briggs & Stratton during the 2nd quarter worth $1,113,000. Institutional investors own 81.72% of the company’s stock.

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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