Analysts Set Briggs & Stratton Co. (BGG) Target Price at $20.75

Shares of Briggs & Stratton Co. (NYSE:BGG) have received a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.75.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Briggs & Stratton from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, October 30th. ValuEngine downgraded Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Northcoast Research restated a “buy” rating and issued a $25.00 price target on shares of Briggs & Stratton in a research note on Friday, August 17th.

Shares of Briggs & Stratton stock traded up $0.08 during midday trading on Wednesday, hitting $15.14. The company had a trading volume of 10,454 shares, compared to its average volume of 506,618. The company has a quick ratio of 0.44, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $638.37 million, a P/E ratio of 11.75 and a beta of 1.05. Briggs & Stratton has a 52-week low of $13.33 and a 52-week high of $27.34.

Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The company had revenue of $279.00 million during the quarter, compared to analysts’ expectations of $297.80 million. Briggs & Stratton had a positive return on equity of 8.46% and a negative net margin of 2.04%. As a group, equities analysts expect that Briggs & Stratton will post 1.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.56 annualized dividend and a dividend yield of 3.70%. Briggs & Stratton’s payout ratio is currently 43.41%.

In related news, Director Frank M. Jaehnert purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were bought at an average price of $13.73 per share, for a total transaction of $68,650.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $205,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH lifted its position in Briggs & Stratton by 31.0% in the 1st quarter. Allianz Asset Management GmbH now owns 69,138 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 16,367 shares in the last quarter. Millennium Management LLC lifted its position in Briggs & Stratton by 90.6% in the 2nd quarter. Millennium Management LLC now owns 158,459 shares of the industrial products company’s stock valued at $2,790,000 after acquiring an additional 75,336 shares in the last quarter. LSV Asset Management lifted its position in Briggs & Stratton by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,325,617 shares of the industrial products company’s stock valued at $40,954,000 after acquiring an additional 10,900 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Briggs & Stratton by 7.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,093,544 shares of the industrial products company’s stock valued at $21,029,000 after acquiring an additional 78,255 shares in the last quarter. Finally, Cardinal Capital Management bought a new position in Briggs & Stratton in the 3rd quarter valued at approximately $596,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Briggs & Stratton (NYSE:BGG)

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