TheStreet cut shares of Briggs & Stratton (NYSE:BGG) from a c- rating to a d rating in a research note published on Thursday morning, TheStreetRatingsTable reports.
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Briggs & Stratton from a sell rating to a strong sell rating in a research report on Friday. Zacks Investment Research raised Briggs & Stratton from a strong sell rating to a hold rating in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $17.50.
Shares of NYSE:BGG opened at $4.83 on Thursday. The business has a 50-day moving average price of $9.33 and a 200 day moving average price of $11.24. The company has a current ratio of 1.32, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $193.05 million, a price-to-earnings ratio of -15.09 and a beta of 1.08. Briggs & Stratton has a 12-month low of $4.27 and a 12-month high of $21.37.
Briggs & Stratton (NYSE:BGG) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.82). The business had revenue of $471.95 million for the quarter, compared to analyst estimates of $519.87 million. Briggs & Stratton had a negative return on equity of 2.61% and a negative net margin of 2.95%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, equities research analysts predict that Briggs & Stratton will post 0.3 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGG. Geode Capital Management LLC boosted its stake in Briggs & Stratton by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 455,022 shares of the industrial products company’s stock valued at $5,951,000 after acquiring an additional 22,300 shares during the last quarter. Norges Bank purchased a new stake in shares of Briggs & Stratton during the 4th quarter valued at approximately $8,809,000. Foundry Partners LLC lifted its stake in shares of Briggs & Stratton by 9.0% during the 1st quarter. Foundry Partners LLC now owns 292,228 shares of the industrial products company’s stock valued at $3,457,000 after buying an additional 24,072 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Briggs & Stratton by 96.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,828 shares of the industrial products company’s stock valued at $128,000 after buying an additional 5,329 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Briggs & Stratton by 107.8% during the 1st quarter. SG Americas Securities LLC now owns 24,106 shares of the industrial products company’s stock valued at $285,000 after buying an additional 12,505 shares in the last quarter. 84.14% of the stock is owned by institutional investors.
Briggs & Stratton Company Profile
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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