ValuEngine Lowers Briggs & Stratton (BGG) to Sell

Briggs & Stratton (NYSE:BGG) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday, ValuEngine reports.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Briggs & Stratton from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 17th. Robert W. Baird set a $14.00 target price on Briggs & Stratton and gave the company a “hold” rating in a report on Friday, January 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Briggs & Stratton currently has a consensus rating of “Hold” and a consensus price target of $17.50.

BGG stock opened at $10.54 on Friday. Briggs & Stratton has a fifty-two week low of $10.15 and a fifty-two week high of $21.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.50 and a current ratio of 1.34. The stock has a market capitalization of $443.31 million, a price-to-earnings ratio of 8.17 and a beta of 0.89.

Briggs & Stratton (NYSE:BGG) last posted its earnings results on Thursday, April 25th. The industrial products company reported $0.34 earnings per share 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 during the quarter, compared to the consensus estimate of $575.35 million. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts predict that Briggs & Stratton will post 0.49 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BGG. Renaissance Technologies LLC increased its position in Briggs & Stratton by 259.1% in the third quarter. Renaissance Technologies LLC now owns 227,000 shares of the industrial products company’s stock worth $4,365,000 after buying an additional 163,787 shares in the last quarter. MetLife Investment Advisors LLC increased its position in Briggs & Stratton by 57.5% in the third quarter. MetLife Investment Advisors LLC now owns 30,468 shares of the industrial products company’s stock worth $586,000 after buying an additional 11,121 shares in the last quarter. Teachers Advisors LLC increased its position in Briggs & Stratton by 5.3% in the third quarter. Teachers Advisors LLC now owns 84,104 shares of the industrial products company’s stock worth $1,617,000 after buying an additional 4,254 shares in the last quarter. Legal & General Group Plc increased its position in Briggs & Stratton by 6.6% in the third quarter. Legal & General Group Plc now owns 100,521 shares of the industrial products company’s stock worth $1,937,000 after buying an additional 6,264 shares in the last quarter. Finally, Morgan Stanley increased its position in Briggs & Stratton by 100.4% in the third quarter. Morgan Stanley now owns 394,040 shares of the industrial products company’s stock worth $7,576,000 after buying an additional 197,426 shares in the last quarter. Institutional investors and hedge funds own 84.27% 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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