Brady (NYSE:BRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Brady Corporation is a world leader in complete identification solutions that help companies improve productivity, performance, safety and security. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. The Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady helps identify people and enhance security by ensuring the right persons are in the right places at the right time. Brady helps customers create and maintain safer work environments and comply with regulatory standards. Brady high-performance materials clearly identify products, components and other assets, even in the most extreme conditions. “
A number of other equities analysts also recently issued reports on the stock. Bank of America lifted their price objective on shares of Brady from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday, November 17th. SunTrust Banks reaffirmed a “hold” rating and set a $39.00 price objective on shares of Brady in a report on Friday, November 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $36.00 price objective on shares of Brady in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Brady has an average rating of “Hold” and a consensus price target of $41.00.
Brady (BRC) traded up $0.10 during midday trading on Wednesday, reaching $38.95. 97,899 shares of the company traded hands, compared to its average volume of 138,345. Brady has a twelve month low of $31.70 and a twelve month 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 firm has a market cap of $2,008.18, a P/E ratio of 20.61, a P/E/G ratio of 2.69 and a beta of 1.19.
Brady (NYSE:BRC) last posted its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The firm had revenue of $290.15 million for the quarter, compared to the consensus estimate of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. sell-side analysts anticipate that Brady will post 1.93 EPS for the current fiscal year.
In other Brady news, VP Thomas J. Felmer sold 10,000 shares of Brady stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $390,000.00. Following the transaction, the vice president now directly owns 78,474 shares of the company’s stock, valued at approximately $3,060,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Felmer sold 2,649 shares of Brady stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $39.52, for a total value of $104,688.48. Following the sale, the vice president now owns 57,668 shares in the company, valued at $2,279,039.36. The disclosure for this sale can be found here. Insiders have sold a total of 18,029 shares of company stock worth $706,748 over the last ninety days. Insiders own 15.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRC. Riverhead Capital Management LLC raised its stake in shares of Brady by 62.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,195 shares during the period. SG Americas Securities LLC bought a new stake in shares of Brady during the 2nd quarter worth $118,000. Hartford Investment Management Co. bought a new stake in shares of Brady during the 3rd quarter worth $204,000. Amalgamated Bank raised its stake in shares of Brady by 5.0% during the 2nd quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 305 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Brady by 54.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,316 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 2,591 shares during the period. Institutional investors own 76.84% of the company’s stock.
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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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