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.

COPYRIGHT VIOLATION WARNING: This story was reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/10/30/brady-corporation-brc-cut-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Brady Corporation (BRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Brady Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady Corporation and related companies with MarketBeat.com's FREE daily email newsletter.