Brady Corporation (BRC) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Brady Corporation (NYSE:BRC) from a buy rating to a hold rating in a report published on Tuesday morning.
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 increased their target price on shares of Brady Corporation from $33.00 to $34.00 and gave the company an underperform rating in a report on Friday, September 8th. Robert W. Baird set a $36.00 price objective on shares of Brady Corporation and gave the stock a hold rating in a report on Thursday, August 24th. Finally, BidaskClub downgraded shares of Brady Corporation from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Brady Corporation currently has a consensus rating of Hold and an average price target of $39.25.
Shares of Brady Corporation (BRC) traded down 0.14% during midday trading on Tuesday, reaching $36.25. 158,449 shares of the company’s stock traded hands. The company has a 50 day moving average of $33.39 and a 200 day moving average of $36.09. Brady Corporation has a 52-week low of $31.70 and a 52-week high of $40.50. The firm has a market cap of $1.86 billion, a PE ratio of 19.59 and a beta of 1.11.
Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. During the same period last year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Brady Corporation will post $1.93 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be given a $0.83 dividend. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.15%. The ex-dividend date of this dividend is Friday, October 6th. Brady Corporation’s dividend payout ratio (DPR) is 44.57%.
A number of institutional investors have recently made changes to their positions in BRC. BlackRock Inc. lifted its position in Brady Corporation by 84,523.4% during the first quarter. BlackRock Inc. now owns 5,658,766 shares of the industrial products company’s stock valued at $218,711,000 after purchasing an additional 5,652,079 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Brady Corporation by 14.3% during the first quarter. Vanguard Group Inc. now owns 5,320,613 shares of the industrial products company’s stock worth $205,641,000 after acquiring an additional 666,642 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Brady Corporation by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock worth $123,045,000 after acquiring an additional 345,775 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Brady Corporation by 35.5% during the second quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock worth $32,425,000 after acquiring an additional 250,713 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Brady Corporation by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after acquiring an additional 192,000 shares in the last quarter. Institutional investors and hedge funds own 76.57% of the company’s stock.
About Brady Corporation
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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