Briggs & Stratton Corporation (BGG) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Jun 1, 2016.
Many Wall Street Analysts have commented on Briggs & Stratton Corporation. Briggs & Stratton Corporation was Downgraded by Northcoast to ” Neutral” on Mar 11, 2016.
On the company’s financial health, Briggs & Stratton Corporation reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.28 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.89. The company had revenue of $603.75 million for the quarter, compared to analysts expectations of $642.22 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.
Briggs & Stratton Corporation opened for trading at $22.1 and hit $22.43 on the upside on Friday, eventually ending the session at $22.3, with a gain of 0.90% or 0.2 points. The heightened volatility saw the trading volume jump to 2,18,129 shares. Company has a market cap of $966 M.
Investors should note that on Apr 21, 2016, Briggs & Stratton Corporation announced a cash dividend of $0.1350. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jun 30, 2016.
In a different news, on May 31, 2016, Todd J Teske (Chairman, President & CEO) sold 30,000 shares at $22.09 per share price. According to the SEC, on May 26, 2016, David G Debaets (VP-Global Engine Operations) sold 6,380 shares at $22.00 per share price. 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 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.