Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. The brokerage currently has $64.00 price objective on the industrial products company’s stock.
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. “
Separately, Wells Fargo & Company upgraded Brady from an underweight rating to an overweight rating and upped their price objective for the company from $50.00 to $70.00 in a research note on Tuesday, June 8th. They noted that the move was a valuation call.
Brady (NYSE:BRC) last released its quarterly earnings results on Wednesday, May 19th. The industrial products company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The business had revenue of $295.50 million during the quarter, compared to analyst estimates of $278.13 million. Brady had a return on equity of 14.31% and a net margin of 11.86%. Brady’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. On average, sell-side analysts expect that Brady will post 2.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Friday, July 9th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, July 8th. This represents a $0.88 annualized dividend and a dividend yield of 1.54%. Brady’s payout ratio is 41.71%.
Several hedge funds have recently bought and sold shares of the company. Harvest Investment Services LLC grew its stake in shares of Brady by 4.1% during the 1st quarter. Harvest Investment Services LLC now owns 4,986 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 198 shares during the period. Eaton Vance Management grew its stake in shares of Brady by 2.1% during the 4th quarter. Eaton Vance Management now owns 11,871 shares of the industrial products company’s stock worth $627,000 after acquiring an additional 249 shares during the period. Fieldpoint Private Securities LLC grew its stake in shares of Brady by 78.6% during the 1st quarter. Fieldpoint Private Securities LLC now owns 584 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 257 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Brady by 0.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 54,557 shares of the industrial products company’s stock worth $2,949,000 after acquiring an additional 271 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Brady by 0.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 58,737 shares of the industrial products company’s stock worth $3,102,000 after acquiring an additional 274 shares during the period. Institutional investors own 77.31% of the company’s stock.
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, floor-marking tapes, 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 and 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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