Brady Corporation (BRC) Lifted to “Buy” at Zacks Investment Research
Brady Corporation (NYSE:BRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $43.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.01% from the stock’s current price.
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. “
BRC has been the subject of several other research reports. Bank of America Corporation raised their price target on Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, September 8th. Robert W. Baird reissued a “hold” rating and issued a $36.00 price target on shares of Brady Corporation in a report on Friday, October 13th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $38.00 price target on shares of Brady Corporation in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.20.
Brady Corporation (NYSE:BRC) last posted its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year.
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In related news, Director Elizabeth P. Bruno sold 24,000 shares of Brady Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.60% of the company’s stock.
A number of large investors have recently made changes to their positions in BRC. BlackRock Inc. lifted its holdings in Brady Corporation by 84,523.4% in the first quarter. BlackRock Inc. now owns 5,658,766 shares of the industrial products company’s stock valued at $218,711,000 after acquiring an additional 5,652,079 shares during the period. Vanguard Group Inc. lifted its holdings in Brady Corporation by 14.3% in the first quarter. Vanguard Group Inc. now owns 5,320,613 shares of the industrial products company’s stock valued at $205,641,000 after acquiring an additional 666,642 shares during the period. JPMorgan Chase & Co. lifted its holdings in Brady Corporation by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after acquiring an additional 345,775 shares during the period. Wells Fargo & Company MN lifted its holdings in Brady Corporation by 35.5% in the second quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock valued at $32,425,000 after acquiring an additional 250,713 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Brady Corporation by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock valued at $55,904,000 after acquiring an additional 192,000 shares during the period. 75.59% of the stock is owned by institutional investors.
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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