Brady Corp Receives “Positive” Rating from Edison Group (BRC)
The analysts wrote, “In its brief AGM update, Brady said that Q1 trading has been in line with expectations. The group has signed five new significant contract wins in the year to date – two in Recycling in Q1 and three Energy deals all announced in April. In March, we noted the group had its largest ever pipeline of new business while it had also been broadening its geographical spread and focusing its sales effort on winning larger contracts. The new Commodities unit (which combined the Physicals and Metals units) has been busy delivering the new business signed in FY13, including with a global trading company that signed late in 2013 and has now gone into production. In our view, the shares continue to look attractive on c 12x our maintained cash-adjusted FY15 EPS if the group can continue the deal-signing momentum.”
Brady Corp (NYSE:BRC) traded up 0.15% on Monday, hitting $25.89. 189,464 shares of the company’s stock traded hands. Brady Corp has a 52-week low of $24.75 and a 52-week high of $35.75. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $28.51. The company’s market cap is $1.350 billion.
Brady Corp (NYSE:BRC) last released its earnings data on Thursday, February 20th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.13. The company had revenue of $291.20 million for the quarter, compared to the consensus estimate of $301.03 million. On average, analysts predict that Brady Corp will post $1.54 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BRC. Analysts at Zacks downgraded shares of Brady Corp from a “neutral” rating to an “underperform” rating in a research note on Monday, March 17th. They now have a $25.20 price target on the stock. Separately, analysts at Robert W. Baird cut their price target on shares of Brady Corp from $33.00 to $28.00 in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Brady Corp presently has a consensus rating of “Hold” and a consensus target price of $30.38.
Brady Corporation (NYSE:BRC) is an international manufacturer of identification solutions and specialty materials that identify and protect premises, products and people.
To view Edison Group’s full report, visit Edison Group’s official website.
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