Brady Corporation (BRC) Cut to “Hold” at Zacks Investment Research
Brady Corporation (NYSE:BRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 research analysts have also recently commented on the company. SunTrust Banks, Inc. restated a “hold” rating and set a $38.00 price target on shares of Brady Corporation in a research note on Friday. Robert W. Baird reiterated a “hold” rating and issued a $36.00 price objective on shares of Brady Corporation in a research report on Friday, October 13th. Finally, Bank of America Corporation increased their price objective on Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.25.
Brady Corporation (BRC) traded down 2.98% during trading on Monday, hitting $37.45. 76,750 shares of the stock traded hands. The stock has a market cap of $1.92 billion, a P/E ratio of 20.52 and a beta of 1.12. The firm’s 50-day moving average is $37.80 and its 200-day moving average is $35.94. 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, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The business had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $280.47 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Brady Corporation will post $1.93 EPS for the current year.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.75, for a total value of $882,000.00. Following the completion of the transaction, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC raised its position in Brady Corporation by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares in the last quarter. SG Americas Securities LLC purchased a new position in Brady Corporation in the second quarter worth $118,000. Ameritas Investment Partners Inc. purchased a new position in Brady Corporation in the first quarter worth $153,000. State of Alaska Department of Revenue raised its position in Brady Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,260 shares of the industrial products company’s stock worth $203,000 after acquiring an additional 120 shares in the last quarter. Finally, PineBridge Investments L.P. raised its position in Brady Corporation by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,925 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Brady Corporation Company Profile
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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