Briggs & Stratton (BGG) Upgraded to “Market Perform” at Citigroup

Briggs & Stratton (NYSE:BGG) was upgraded by analysts at Citigroup to a “market perform” rating in a research note issued on Tuesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other brokerages also recently issued reports on BGG. ValuEngine raised shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Robert W. Baird reissued a “hold” rating and issued a $26.00 price objective on shares of Briggs & Stratton in a research note on Tuesday, January 9th. Finally, Raymond James Financial reissued an “underperform” rating on shares of Briggs & Stratton in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.33.

Briggs & Stratton (NYSE BGG) opened at $25.53 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.82 and a quick ratio of 0.70. Briggs & Stratton has a 1-year low of $20.00 and a 1-year high of $25.95. The company has a market cap of $1,094.28, a PE ratio of 19.95 and a beta of 0.78.

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

In other news, SVP David J. Rodgers sold 18,000 shares of the firm’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 transaction of $437,040.00. Following the transaction, the senior vice president now directly owns 118,383 shares of the company’s stock, valued at $2,874,339.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Andrea L. Golvach sold 19,174 shares of the firm’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 transaction, the vice president now directly owns 27,197 shares in the company, valued at $685,364.40. The disclosure for this sale can be found here. In the last three months, insiders sold 97,174 shares of company stock valued at $2,360,825. 4.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Briggs & Stratton by 4.2% during the second quarter. Public Employees Retirement System of Ohio now owns 7,230 shares of the industrial products company’s stock valued at $174,000 after buying an additional 293 shares during the period. SG Americas Securities LLC increased its holdings in Briggs & Stratton 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 buying an additional 895 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Briggs & Stratton during the second quarter valued at approximately $223,000. OxFORD Asset Management LLP purchased a new position in Briggs & Stratton during the second quarter valued at approximately $260,000. Finally, Ramsey Quantitative Systems purchased a new position in Briggs & Stratton during the second quarter valued at approximately $300,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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Briggs & Stratton Company Profile

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.

The Fly

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