Zacks Investment Research Downgrades Brady Corporation (BRC) to Hold
Brady Corporation (NYSE:BRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Brady Corporation is a manufacturer and marketer of identification solutions and specialty coated materials. Their products consist stock and custom items as well as identification systems that are used to create a safer work environment for employees, improve production and operating efficiencies and increase the utilization of assets through tracking and inventory process controls. Major product categories include: industrial identification and data collection products; safety and facility identification products; and original equipment manufacturers components. “
Several other equities analysts also recently commented on the stock. SunTrust Banks, Inc. reiterated a “hold” rating and set a $39.00 price target on shares of Brady Corporation in a report on Friday, November 17th. Bank of America Corporation upped their price target on shares of Brady Corporation from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Friday, November 17th. Finally, Robert W. Baird reiterated a “hold” rating and set a $36.00 price target on shares of Brady Corporation in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.60.
Brady Corporation (NYSE BRC) opened at $38.90 on Tuesday. The company has a market cap of $1,975.64, a PE ratio of 21.36, a P/E/G ratio of 2.66 and a beta of 1.18. Brady Corporation has a fifty-two week low of $31.70 and a fifty-two week 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.
Brady Corporation (NYSE:BRC) last issued its quarterly earnings results 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 company had revenue of $290.15 million for the quarter, compared to the consensus estimate of $286.75 million. Brady Corporation had a net margin of 8.81% and a return on equity of 13.90%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. equities analysts predict that Brady Corporation will post 1.93 earnings per share for the current fiscal year.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the completion of the sale, the director now directly owns 371,509 shares of the company’s stock, valued at approximately $13,652,955.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas J. Felmer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $390,000.00. Following the completion of the sale, the vice president now directly owns 78,474 shares of the company’s stock, valued at $3,060,486. The disclosure for this sale can be found here. 15.60% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BRC. JPMorgan Chase & Co. boosted its position in Brady Corporation by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after buying an additional 345,775 shares during the period. Wells Fargo & Company MN lifted its position in shares of Brady Corporation by 35.5% in the 2nd quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock worth $32,425,000 after purchasing an additional 250,713 shares during the period. Renaissance Technologies LLC lifted its position in shares of Brady Corporation by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after purchasing an additional 192,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Brady Corporation by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after purchasing an additional 159,933 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Brady Corporation in the 2nd quarter worth approximately $5,218,000. 74.47% of the stock is owned by institutional investors.
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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