Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research report released on Monday, November 20th. Zacks Investment Research currently has $43.00 price objective on the industrial products company’s stock.
According to Zacks, “Brady Corporation is a manufacturer and marketer of identification solutions and specialty coated materials. Their products consist stock and custom items as well as identification systems that are used to create a safer work environment for employees, improve production and operating efficiencies and increase the utilization of assets through tracking and inventory process controls. Major product categories include: industrial identification and data collection products; safety and facility identification products; and original equipment manufacturers components. “
A number of other research analysts have also recently commented on BRC. Robert W. Baird set a $36.00 target price on Brady and gave the company a hold rating in a research note on Thursday, August 24th. SunTrust Banks reaffirmed a hold rating and set a $38.00 price objective on shares of Brady in a research report on Friday, October 27th. Finally, Bank of America raised their price objective on Brady from $33.00 to $34.00 and gave the company an underperform rating in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $39.60.
Brady (NYSE:BRC) traded down $0.20 during midday trading on Monday, reaching $38.70. The company’s stock had a trading volume of 90,117 shares, compared to its average volume of 202,713. Brady has a 1-year low of $31.70 and a 1-year high of $40.50. The company has a current ratio of 2.19, a quick ratio of 1.62 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2,010.76, a PE ratio of 21.67, a P/E/G ratio of 2.69 and a beta of 1.19.
Brady (NYSE:BRC) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $286.75 million. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. equities analysts forecast that Brady will post 1.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady’s payout ratio is 43.92%.
In other Brady news, VP Thomas J. Felmer sold 3,980 shares of Brady stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.51, for a total value of $157,249.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the completion of the sale, the director now directly owns 2,511 shares of the company’s stock, valued at approximately $98,305.65. The disclosure for this sale can be found here. In the last three months, insiders sold 39,380 shares of company stock valued at $1,484,060. Corporate insiders own 15.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BRC. Riverhead Capital Management LLC grew its holdings in shares of Brady by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares during the period. SG Americas Securities LLC purchased a new position in Brady during the second quarter valued at $118,000. Hartford Investment Management Co. purchased a new position in Brady during the third quarter valued at $204,000. Amalgamated Bank lifted its position in Brady by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 305 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Brady by 17.9% during the second quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 1,075 shares in the last quarter. 76.88% of the stock is owned by institutional investors.
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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