Brady Corporation (NYSE:BRC) had its price objective raised by investment analysts at Bank of America Corporation from $33.00 to $34.00 in a report issued on Friday. The brokerage presently has an “underperform” rating on the industrial products company’s stock. Bank of America Corporation’s target price would indicate a potential downside of 5.29% from the stock’s current price.

Several other research analysts have also issued reports on BRC. Zacks Investment Research upgraded shares of Brady Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Monday, May 15th. BidaskClub lowered shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Robert W. Baird set a $36.00 price target on shares of Brady Corporation and gave the stock a “hold” rating in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $38.20.

Shares of Brady Corporation (NYSE:BRC) traded up 1.84% during midday trading on Friday, reaching $35.90. The company’s stock had a trading volume of 352,647 shares. The stock’s 50 day moving average is $33.04 and its 200 day moving average is $36.18. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50. The stock has a market capitalization of $1.84 billion, a PE ratio of 19.41 and a beta of 1.11.

Brady Corporation (NYSE:BRC) last posted its quarterly earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a net margin of 8.64% and a return on equity of 14.44%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, analysts forecast that Brady Corporation will post $1.81 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Brady Corporation by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock worth $194,270,000 after purchasing an additional 71,895 shares in the last quarter. Vanguard Group Inc. grew its position in Brady Corporation by 3.0% during 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 in the last quarter. JPMorgan Chase & Co. grew its position in Brady Corporation by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock worth $123,045,000 after purchasing an additional 345,775 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Brady Corporation by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,714,694 shares of the industrial products company’s stock worth $58,128,000 after purchasing an additional 16,270 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Brady Corporation by 13.2% during 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 in the last quarter. Hedge funds and other institutional investors 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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