Brady Corporation (BRC) Price Target Raised to $34.00 at Bank of America Corporation
Brady Corporation (NYSE:BRC) had its price target hoisted by Bank of America Corporation from $33.00 to $34.00 in a research note released on Friday. The brokerage currently has an underperform rating on the industrial products company’s stock.
BRC has been the topic of several other reports. Zacks Investment Research lowered shares of Brady Corporation from a buy rating to a hold rating in a report on Monday, May 29th. Robert W. Baird set a $36.00 target price on shares of Brady Corporation and gave the stock a hold rating in a report on Thursday, August 24th. Finally, BidaskClub lowered shares of Brady Corporation from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $38.20.
Brady Corporation (BRC) traded up 1.84% on Friday, hitting $35.90. The company’s stock had a trading volume of 352,647 shares. The company has a 50 day moving average price of $33.09 and a 200-day moving average price of $36.18. The company has a market capitalization of $1.84 billion, a P/E ratio of 19.41 and a beta of 1.11. Brady Corporation has a 1-year low of $31.70 and a 1-year high of $40.50.
Brady Corporation (NYSE:BRC) last announced its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The firm had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $280.47 million. During the same period last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Brady Corporation will post $1.92 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.25%. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, October 6th. Brady Corporation’s dividend payout ratio (DPR) is presently 44.57%.
Several large investors have recently modified their holdings of BRC. Riverhead Capital Management LLC raised its holdings in shares of Brady Corporation by 62.9% during the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Brady Corporation during the second quarter worth $118,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Brady Corporation during the first quarter worth $153,000. Amalgamated Bank raised its holdings in shares of Brady Corporation by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 305 shares during the period. Finally, Brighton Jones LLC acquired a new stake in shares of Brady Corporation during the first quarter worth $232,000. Institutional investors and hedge funds own 76.57% of the company’s stock.
About Brady Corporation
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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