Analysts Set Briggs & Stratton Corporation (BGG) Target Price at $26.50

Shares of Briggs & Stratton Corporation (NYSE:BGG) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $26.50.

A number of research firms have commented on BGG. ValuEngine upgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub upgraded shares of Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Friday, August 11th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Briggs & Stratton Corporation in a research report on Tuesday, October 17th. They noted that the move was a valuation call.

Briggs & Stratton Corporation (NYSE:BGG) traded up $0.02 during trading on Friday, reaching $24.26. 614,100 shares of the company’s stock were exchanged, compared to its average volume of 265,492. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.82 and a quick ratio of 0.70. The firm has a market cap of $1,040.00, a price-to-earnings ratio of 17.69 and a beta of 0.79. Briggs & Stratton Corporation has a 52-week low of $20.00 and a 52-week high of $25.95.

Briggs & Stratton Corporation (NYSE:BGG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.08. The firm had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton Corporation had a net margin of 3.05% and a return on equity of 11.38%. Briggs & Stratton Corporation’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS. research analysts anticipate that Briggs & Stratton Corporation will post 1.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be issued a $0.14 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.31%. Briggs & Stratton Corporation’s payout ratio is currently 43.75%.

In related news, SVP David J. Rodgers sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $24.28, for a total value of $437,040.00. Following the sale, the senior vice president now directly owns 118,383 shares in the company, valued at approximately $2,874,339.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrea L. Golvach sold 19,174 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $25.20, for a total transaction of $483,184.80. Following the completion of the sale, the vice president now owns 27,197 shares in the company, valued at $685,364.40. The disclosure for this sale can be found here. Insiders sold a total of 50,004 shares of company stock worth $1,185,619 over the last quarter. Insiders own 4.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BGG. Public Employees Retirement System of Ohio raised its holdings in shares of Briggs & Stratton Corporation by 3.9% during the first quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 263 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Briggs & Stratton Corporation during the second quarter valued at approximately $181,000. SG Americas Securities LLC raised its holdings in shares of Briggs & Stratton Corporation by 12.3% during the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 895 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Briggs & Stratton Corporation by 76.9% during the second quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 3,653 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Briggs & Stratton Corporation during the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 82.54% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Analysts Set Briggs & Stratton Corporation (BGG) Target Price at $26.50” was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/11/14/analysts-set-briggs-stratton-corporation-bgg-target-price-at-26-50.html.

About Briggs & Stratton Corporation

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

Receive News & Ratings for Briggs & Stratton Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Briggs & Stratton Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply