Briggs & Stratton Corporation (BGG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Briggs & Stratton Corporation (NYSE:BGG) from a hold rating to a strong-buy rating in a research report sent to investors on Monday. Zacks Investment Research currently has $28.00 price target on the industrial products company’s stock.

According to Zacks, “Briggs & Stratton Corp. is one of the world’s largest producers of air cooled gasoline engines for outdoor power equipment. The company designs, manufactures, markets and services these products for original equipment manufacturers worldwide. These engines are primarily aluminum alloy gasoline engines. “

A number of other equities analysts have also recently commented on BGG. BidaskClub cut Briggs & Stratton Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. ValuEngine raised Briggs & Stratton Corporation from a hold rating to a buy rating in a report on Tuesday, September 26th. Finally, Raymond James Financial, Inc. reissued an underperform rating on shares of Briggs & Stratton Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $26.50.

Briggs & Stratton Corporation (NYSE:BGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. The company had revenue of $329.10 million for the quarter, compared to the consensus estimate of $295.84 million. Briggs & Stratton Corporation had a return on equity of 11.38% and a net margin of 3.05%. Briggs & Stratton Corporation’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) earnings per share.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.22%. Briggs & Stratton Corporation’s payout ratio is currently 43.75%.

In other Briggs & Stratton Corporation news, insider Todd J. Teske sold 5,830 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the transaction, the insider now owns 379,417 shares of the company’s stock, valued at $7,846,343.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrea L. Golvach sold 19,174 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $25.20, for a total value of $483,184.80. Following the transaction, the vice president now directly owns 27,197 shares of the company’s stock, valued at approximately $685,364.40. The disclosure for this sale can be found here. Insiders have sold 32,004 shares of company stock valued at $748,579 in the last three months. Insiders own 4.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in BGG. UBS Asset Management Americas Inc. raised its holdings in shares of Briggs & Stratton Corporation by 87.3% during the first quarter. UBS Asset Management Americas Inc. now owns 21,907 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 10,209 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Briggs & Stratton Corporation in the first quarter valued at approximately $257,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Briggs & Stratton Corporation by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 180 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Briggs & Stratton Corporation by 0.7% in the first quarter. Principal Financial Group Inc. now owns 325,366 shares of the industrial products company’s stock valued at $7,304,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Briggs & Stratton Corporation by 2.8% in the first quarter. Teachers Advisors LLC now owns 83,676 shares of the industrial products company’s stock valued at $1,879,000 after purchasing an additional 2,293 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

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.

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