Brady Corporation (BRC) Given Average Recommendation of “Hold” by Brokerages
Brady Corporation (NYSE:BRC) has been assigned an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $37.25.
A number of equities research analysts recently commented on the company. Bank of America Corporation increased their price target on Brady Corporation from $33.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday. Robert W. Baird set a $36.00 price target on Brady Corporation and gave the company a “hold” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered Brady Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered Brady Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd.
Brady Corporation (BRC) traded up 1.84% during trading on Friday, hitting $35.90. 352,382 shares of the company traded hands. The stock has a 50-day moving average price of $33.04 and a 200-day moving average price of $36.18. The firm 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 12-month low of $31.70 and a 12-month high of $40.50.
Brady Corporation (NYSE:BRC) last released its quarterly earnings results on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a return on equity of 14.44% and a net margin of 8.64%. Brady Corporation’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. Equities analysts expect that Brady Corporation will post $1.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, October 6th. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 annualized dividend and a dividend yield of 9.25%. Brady Corporation’s dividend payout ratio (DPR) is currently 44.32%.
Several institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Brady Corporation during the 2nd quarter valued at $454,000. Public Employees Retirement System of Ohio increased its position in shares of Brady Corporation by 361.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,376 shares of the industrial products company’s stock valued at $555,000 after purchasing an additional 12,830 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Brady Corporation during the 2nd quarter valued at $350,000. The Manufacturers Life Insurance Company increased its position in shares of Brady Corporation by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,785 shares of the industrial products company’s stock valued at $1,214,000 after purchasing an additional 456 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Brady Corporation by 54.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,316 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 2,591 shares during the last quarter. 76.57% of the stock is owned by hedge funds and other 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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