Briggs & Stratton Corporation (BGG) is Downgraded by Robert W. Baird to Neutral, Lowers Price Target to $ 23

Briggs & Stratton Corporation (BGG) was Downgraded by Robert W. Baird to ” Neutral” while Lowering the Price Target of the company shares to $ 23 from a previous price target of $23 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Apr 15, 2016.

Many Wall Street Analysts have commented on Briggs & Stratton Corporation. Briggs & Stratton Corporation was Downgraded by Northcoast to ” Neutral” on Mar 11, 2016. Briggs & Stratton Corporation was Upgraded by Raymond James to ” Strong Buy” on Mar 1, 2016.

On the company’s financial health, Briggs & Stratton Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jan 20, 2016. Analyst had a consensus of $0.20. The company had revenue of $413.40 million for the quarter, compared to analysts expectations of $435.16 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.

Briggs & Stratton Corporation opened for trading at $22.88 and hit $23.27 on the upside on Monday, eventually ending the session at $22.84, with a gain of 0.53% or 0.12 points. The heightened volatility saw the trading volume jump to 1,88,472 shares. Company has a market cap of $986 M.

In a different news, on Mar 11, 2016, David J Rodgers (Sr. VP & Pres. – Engines Group) sold 17,790 shares at $23.99 per share price. According to the SEC, on Feb 18, 2016, Todd J Teske (Chairman, President & CEO) sold 49,213 shares at $20.98 per share price. On Feb 8, 2016, Harold L Redman (SVP & Pres.-Turf & Cons. Prod.) sold 25,050 shares at $20.41 per share price, according to the Form-4 filing with the securities and exchange commission.

Briggs & Stratton Corporation is a producer of air cooled gasoline engines for outdoor power equipment. The Company designs manufactures markets and services these products for original equipment manufacturers (OEMs) worldwide. In addition the Company markets and sells related service parts and accessories for its engines. The Company manufactures markets generators pressure washers snow throwers lawn and garden powered equipment (primarily riding and walk behind mowers) and related service parts and accessories. The Company operates in two segments: Engines and Power Products. Briggs & Stratton manufactures four-cycle aluminum alloy gasoline engines with displacements ranging from 125 to 993 cubic centimeters through its Engines segment. Power Products’ principal product lines include portable and standby generators pressure washers snow throwers and lawn and garden powered equipment.

Briggs & Stratton Corporation

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