Brady Corp. (BRC) Hits New 1-Year High at $32.78
Brady Corp. (NYSE:BRC)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $32.78 and last traded at $32.67, with a volume of 69,258 shares. The stock had previously closed at $32.48.
Separately, Zacks Investment Research cut Brady Corp. from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.60.
The company has a market capitalization of $1.64 billion and a P/E ratio of 106.73. The firm’s 50-day moving average is $31.94 and its 200 day moving average is $28.62.
Brady Corp. (NYSE:BRC) last issued its quarterly earnings data on Thursday, May 19th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. The business earned $286.80 million during the quarter, compared to the consensus estimate of $276.06 million. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts expect that Brady Corp. will post $1.45 earnings per share for the current fiscal year.
In related news, Director Frank W. Harris sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $31.86, for a total value of $95,580.00. Following the sale, the director now owns 30,304 shares of the company’s stock, valued at $965,485.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bentley Curran sold 7,000 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $31.29, for a total transaction of $219,030.00. Following the completion of the sale, the vice president now directly owns 35,459 shares in the company, valued at approximately $1,109,512.11. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Brady Corp. stock. New York State Common Retirement Fund raised its stake in Brady Corp. (NYSE:BRC) by 25.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 112,753 shares of the company’s stock after buying an additional 22,708 shares during the period. New York State Common Retirement Fund owned about 0.22% of Brady Corp. worth $2,591,000 as of its most recent SEC filing.
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 that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.
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