Brady Corporation (BRC) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Brady Corporation (NYSE:BRC) from a buy rating to a hold rating in a research note published on Monday 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. “
Other research analysts have also issued reports about the stock. Robert W. Baird set a $36.00 target price on shares of Brady Corporation and gave the stock a hold rating in a research note on Thursday, August 24th. SunTrust Banks, Inc. reissued a hold rating and set a $38.00 target price on shares of Brady Corporation in a research note on Friday, October 27th. Finally, Bank of America Corporation increased their target price on shares of Brady Corporation from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Brady Corporation presently has an average rating of Hold and an average target price of $38.80.
Shares of Brady Corporation (BRC) opened at $37.95 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.18 and a quick ratio of 1.61. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50. The company has a market cap of $1,950.00, a price-to-earnings ratio of 21.71, a PEG ratio of 2.64 and a beta of 1.18.
Brady Corporation (NYSE:BRC) last issued its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. Brady Corporation’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. sell-side analysts anticipate that Brady Corporation will post 1.92 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 2.19%. Brady Corporation’s dividend payout ratio is presently 45.36%.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $36.75, for a total transaction of $882,000.00. Following the transaction, the director now directly owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BRC. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 345,775 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of 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 buying an additional 250,713 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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 buying an additional 192,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Brady Corporation by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock valued at $185,791,000 after buying an additional 159,933 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Brady Corporation in the second quarter valued at $5,218,000. 75.23% of the stock is currently owned by hedge funds and other 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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