Zacks Investment Research lowered shares of Briggs & Stratton (NYSE:BGG) from a hold rating to a strong sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Briggs & Stratton Corporation is focused on providing power to get work done and make people’s lives better. Briggs & Stratton is the world’s largest producer of gasoline engines for outdoor power equipment, and is a leading designer, manufacturer and marketer of power generation, pressure washer, lawn and garden, turf care and job site products through its Briggs & Stratton, Simplicity, Snapper, Ferris, Vanguard, Allmand, Billy Goat, Murray, Branco and Victa brands. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. “

A number of other analysts also recently weighed in on the company. ValuEngine downgraded Briggs & Stratton from a sell rating to a strong sell rating in a report on Friday, August 16th. TheStreet downgraded Briggs & Stratton from a c- rating to a d rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $17.50.

Shares of NYSE:BGG opened at $4.42 on Tuesday. The company has a fifty day moving average of $8.68 and a 200-day moving average of $11.02. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.44. Briggs & Stratton has a 52-week low of $4.27 and a 52-week high of $21.11.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.82). The company 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 quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. As a group, equities research analysts predict that Briggs & Stratton will post 0.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund increased its holdings in Briggs & Stratton by 3.1% in the first quarter. Texas Permanent School Fund now owns 28,589 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 850 shares during the period. Comerica Bank grew its holdings 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 period. Glen Harbor Capital Management LLC grew its holdings 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 period. TD Asset Management Inc. grew its holdings 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 period. Finally, Strs Ohio grew its holdings 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 period. Institutional investors and hedge funds own 83.99% 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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