Zacks Investment Research Upgrades Brady (BRC) to “Hold”

Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a sell rating to a hold rating in a report issued on Monday.

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. “

Several other brokerages have also commented on BRC. Bank of America raised their price objective on Brady from $34.00 to $35.00 and gave the company an underperform rating in a research report on Friday, November 17th. SunTrust Banks reissued a hold rating and set a $39.00 price objective on shares of Brady in a research report on Friday, November 17th. Finally, Robert W. Baird reissued a hold rating and set a $36.00 price objective on shares of Brady in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $41.00.

Shares of Brady (NYSE:BRC) opened at $38.55 on Monday. The firm has a market cap of $1,972.09 and a price-to-earnings ratio of 21.25. Brady has a fifty-two week low of $31.70 and a fifty-two week high of $40.50. 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 data 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. The business had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. Brady had a return on equity of 13.90% and a net margin of 8.81%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. equities analysts expect that Brady will post 1.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th were given a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Tuesday, January 9th. Brady’s dividend payout ratio is presently 43.92%.

In other news, VP Bentley Curran sold 21,784 shares of Brady stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $39.01, for a total value of $849,793.84. Following the completion of the transaction, the vice president now owns 52,597 shares of the company’s stock, valued at approximately $2,051,808.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction dated 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 transaction, 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 ninety days, insiders sold 59,813 shares of company stock valued at $2,336,542. 15.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Riverhead Capital Management LLC raised its position in shares of Brady by 62.9% in 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 last quarter. Hartford Investment Management Co. purchased a new position in shares of Brady in the 3rd quarter worth about $204,000. Amalgamated Bank raised its position in shares of Brady by 5.0% in 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 last quarter. Cubist Systematic Strategies LLC raised its position in shares of Brady by 54.8% in 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 last quarter. Finally, Bowling Portfolio Management LLC purchased a new position in Brady in the 4th quarter worth about $276,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

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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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