Brady Co. (NYSE:BRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $43.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.83% from the company’s previous close.
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. “
Other research analysts have also issued research reports about the stock. Bank of America Corporation raised their price objective on shares of Brady from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Friday. SunTrust Banks, Inc. reiterated a “hold” rating and set a $39.00 price objective on shares of Brady in a research note on Friday. Finally, Robert W. Baird reiterated a “hold” rating and set a $36.00 price objective on shares of Brady in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.60.
Shares of Brady (NYSE:BRC) traded down $0.30 during trading hours on Monday, hitting $38.45. 227,498 shares of the company’s stock traded hands, compared to its average volume of 202,372. Brady has a 12 month low of $31.70 and a 12 month high of $40.50. The firm has a market capitalization of $1,991.05, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.68 and a beta of 1.18. The company has a quick ratio of 1.62, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.
Brady (NYSE:BRC) last announced its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Brady had a net margin of 8.90% and a return on equity of 14.21%. The company had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. During the same quarter last year, the business earned $0.44 earnings per share. Brady’s revenue was up 3.6% compared to the same quarter last year. sell-side analysts anticipate that Brady will post 1.93 EPS for the current fiscal year.
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In related news, Director Elizabeth P. Bruno sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $36.75, for a total transaction of $882,000.00. Following the transaction, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of BRC. JPMorgan Chase & Co. grew its position in Brady by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock worth $123,045,000 after buying an additional 345,775 shares during the last quarter. Wells Fargo & Company MN grew its position in Brady by 35.5% in the second quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock worth $32,425,000 after buying an additional 250,713 shares during the last quarter. Renaissance Technologies LLC grew its position in Brady by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after buying an additional 192,000 shares during the last quarter. Vanguard Group Inc. grew its position in Brady by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after buying an additional 159,933 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Brady in the second quarter worth approximately $5,218,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.
Brady Company Profile
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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