Brady (NYSE:BRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $60.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.95% from the company’s current price.
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 equities research analysts have also commented on the stock. Bank of America boosted their price target on shares of Brady from $46.00 to $49.00 and gave the company an “underperform” rating in a report on Monday. Wells Fargo & Co set a $45.00 price objective on shares of Brady and gave the company a “hold” rating in a report on Friday, July 12th. Finally, ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.25.
Shares of Brady stock traded up $1.34 during trading on Wednesday, hitting $54.57. 347,738 shares of the stock traded hands, compared to its average volume of 316,148. The firm has a market cap of $2.76 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95. Brady has a 52-week low of $38.81 and a 52-week high of $54.86. The stock’s fifty day simple moving average is $49.37 and its 200 day simple moving average is $48.28.
Brady (NYSE:BRC) last released its quarterly earnings data on Friday, September 6th. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. Brady had a return on equity of 16.15% and a net margin of 11.31%. The firm had revenue of $295.30 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Brady will post 2.55 earnings per share for the current fiscal year.
In other news, VP Bentley Curran sold 10,982 shares of Brady stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $51.92, for a total value of $570,185.44. Following the transaction, the vice president now owns 33,760 shares of the company’s stock, valued at approximately $1,752,819.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Russell Shaller sold 2,225 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $48.25, for a total transaction of $107,356.25. Following the transaction, the vice president now owns 41,677 shares of the company’s stock, valued at approximately $2,010,915.25. The disclosure for this sale can be found here. Insiders sold 44,925 shares of company stock valued at $2,242,064 over the last quarter. 15.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BRC. Dimensional Fund Advisors LP increased its position in shares of Brady by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,824,565 shares of the industrial products company’s stock worth $79,294,000 after purchasing an additional 6,243 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Brady by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 669,646 shares of the industrial products company’s stock worth $29,102,000 after acquiring an additional 10,883 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Brady by 165.0% during the first quarter. BNP Paribas Arbitrage SA now owns 11,226 shares of the industrial products company’s stock worth $521,000 after acquiring an additional 6,989 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Brady by 24.1% during the first quarter. Bank of Montreal Can now owns 11,835 shares of the industrial products company’s stock worth $549,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Brady during the first quarter valued at about $405,000. Institutional investors own 80.54% of the company’s stock.
Brady Company Profile
Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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