Global Brass and Copper (NYSE:BRSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $37.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.47% from the stock’s previous close.

According to Zacks, “Global Brass & Copper Holdings, Inc. is a converter, fabricator, distributor and processor of copper and brass products primarily in North America. The Company’s product include sheet, strip, foil, rod, tube and fabricated metal component that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. It also engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products. The company serves building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. Global Brass & Copper Holdings, Inc. is headquartered in Schaumburg, United States. “

Other analysts have also recently issued reports about the company. ValuEngine cut Global Brass and Copper from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. BidaskClub upgraded Global Brass and Copper from a “sell” rating to a “hold” rating in a report on Friday, October 13th.

Shares of Global Brass and Copper (NYSE BRSS) traded up $0.70 during mid-day trading on Tuesday, reaching $33.80. The company had a trading volume of 92,125 shares, compared to its average volume of 82,750. Global Brass and Copper has a 1-year low of $28.10 and a 1-year high of $39.85. The company has a market capitalization of $725.02, a PE ratio of 14.02 and a beta of 0.47. The company has a debt-to-equity ratio of 2.19, a current ratio of 3.26 and a quick ratio of 2.00.

Global Brass and Copper (NYSE:BRSS) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Global Brass and Copper had a return on equity of 47.75% and a net margin of 3.61%. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $376.00 million. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. sell-side analysts predict that Global Brass and Copper will post 2.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BRSS. BNP Paribas Arbitrage SA lifted its stake in Global Brass and Copper by 388.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,493 shares of the industrial products company’s stock valued at $137,000 after buying an additional 3,574 shares during the period. SG Americas Securities LLC acquired a new position in Global Brass and Copper in the third quarter valued at approximately $160,000. Stevens Capital Management LP acquired a new position in Global Brass and Copper in the second quarter valued at approximately $219,000. Eqis Capital Management Inc. acquired a new position in Global Brass and Copper in the third quarter valued at approximately $231,000. Finally, Voya Investment Management LLC lifted its stake in Global Brass and Copper by 29.8% in the second quarter. Voya Investment Management LLC now owns 9,409 shares of the industrial products company’s stock valued at $287,000 after buying an additional 2,161 shares during the period. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

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Global Brass and Copper Company Profile

Global Brass and Copper Holdings, Inc is a converter, fabricator, processor and distributor of specialized non-ferrous products, including a range of sheet, strip, foil, rod, tube and fabricated metal component products. The Company operates through three segments: Olin Brass, Chase Brass and A.J. Oster.

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