Briggs & Stratton (NYSE:BGG) Downgraded to “D” at TheStreet

TheStreet lowered shares of Briggs & Stratton (NYSE:BGG) from a c- rating to a d rating in a report released on Thursday, TheStreetRatingsTable reports.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Briggs & Stratton from a strong sell rating to a hold rating in a report on Monday, July 1st. ValuEngine cut Briggs & Stratton from a sell rating to a strong sell rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Briggs & Stratton has an average rating of Hold and an average target price of $17.50.

Shares of NYSE BGG opened at $4.83 on Thursday. The stock has a market cap of $203.15 million, a price-to-earnings ratio of -15.09 and a beta of 1.08. The company has a current ratio of 1.34, a quick ratio of 0.50 and a debt-to-equity ratio of 0.39. Briggs & Stratton has a 1-year low of $4.27 and a 1-year high of $21.37. The stock’s 50-day moving average is $9.33 and its 200 day moving average is $11.24.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.82). The firm had revenue of $471.95 million for the quarter, compared to analysts’ expectations of $519.87 million. Briggs & Stratton had a negative net margin of 2.54% and a positive return on equity of 4.22%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, analysts forecast that Briggs & Stratton will post 0.3 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund grew its position in Briggs & Stratton by 3.1% during the 1st quarter. Texas Permanent School Fund now owns 28,589 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 850 shares during the last quarter. Comerica Bank grew its position in Briggs & Stratton by 2.6% during the 1st quarter. Comerica Bank now owns 41,969 shares of the industrial products company’s stock worth $530,000 after acquiring an additional 1,051 shares during the last quarter. Glen Harbor Capital Management LLC grew its position in Briggs & Stratton by 14.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,268 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,292 shares during the last quarter. TD Asset Management Inc. grew its position in Briggs & Stratton by 22.8% during the 1st quarter. TD Asset Management Inc. now owns 13,961 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 2,593 shares during the last quarter. Finally, Strs Ohio grew its position in Briggs & Stratton by 7.5% during the 2nd quarter. Strs Ohio now owns 45,700 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 84.14% 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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