Brady Corp Upgraded by Bank of America to Buy (BRC)
Brady Corp (NYSE:BRC) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $33.00 price target on the stock, up from their previous price target of $29.00. Bank of America’s target price would suggest a potential upside of 18.19% from the stock’s previous close.
Brady Corp (NYSE:BRC) opened at 27.92 on Friday. Brady Corp has a 1-year low of $24.07 and a 1-year high of $35.68. The stock has a 50-day moving average of $26.37 and a 200-day moving average of $27.77. The company’s market cap is $1.429 billion.
Brady Corp (NYSE:BRC) last released its earnings data on Thursday, May 22nd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $309.60 million for the quarter, compared to the consensus estimate of $301.62 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Brady Corp will post $1.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 31st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Tuesday, July 8th.
A number of other analysts have also recently weighed in on BRC. Analysts at Zacks upgraded shares of Brady Corp from an “underperform” rating to a “neutral” rating in a research note on Monday, April 28th. They now have a $26.50 price target on the stock. Separately, analysts at Edison Investment Research reiterated a “positive” rating on shares of Brady Corp in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Brady Corp currently has an average rating of “Hold” and an average price target of $30.90.
Brady Corporation (NYSE:BRC) is an international manufacturer of identification solutions and specialty materials that identify and protect premises, products and people.
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