Brady Corp. (BRC) Reaches New 1-Year High at $32.78
Brady Corp. (NYSE:BRC) hit a new 52-week high on Friday . The stock 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 downgraded Brady Corp. from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.60.
The company has a 50-day moving average of $31.88 and a 200-day moving average of $28.55. The stock has a market cap of $1.64 billion and a P/E ratio of 106.80.
Brady Corp. (NYSE:BRC) last posted its quarterly earnings data on Thursday, May 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.08. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm earned $286.80 million during the quarter, compared to analyst estimates of $276.06 million. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Analysts predict that Brady Corp. will post $1.45 earnings per share for the current fiscal year.
In other news, VP Bentley Curran sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 35,459 shares in the company, valued at approximately $1,109,512.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank W. Harris sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $31.86, for a total value of $95,580.00. Following the transaction, the director now owns 30,304 shares in the company, valued at $965,485.44. 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 increased its stake in Brady Corp. (NYSE:BRC) by 25.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.
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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