Brady Corporation (BRC) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Brady Corporation (NYSE:BRC) from a hold rating to a buy rating in a report issued on Monday morning. The brokerage currently has $43.00 price objective on the industrial products company’s stock.
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. “
Several other equities analysts have also issued reports on the company. Bank of America Corporation increased their target price on Brady Corporation from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Friday, September 8th. 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, Robert W. Baird reissued a hold rating and set a $36.00 target price on shares of Brady Corporation in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $39.60.
Brady Corporation (NYSE BRC) opened at $38.90 on Monday. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50. The company has a market capitalization of $2,014.17, a price-to-earnings ratio of 21.78, a PEG ratio of 2.71 and a beta of 1.18. The company has a quick ratio of 1.62, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.
Brady Corporation (NYSE:BRC) last posted its earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady Corporation had a return on equity of 13.90% and a net margin of 8.81%. The firm had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. During the same quarter in the prior year, the company earned $0.44 EPS. Brady Corporation’s revenue was up 3.6% on a year-over-year basis. sell-side analysts expect that Brady Corporation will post 1.93 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. The ex-dividend date is Tuesday, January 9th. This represents a $0.83 annualized dividend and a yield of 2.13%. Brady Corporation’s dividend payout ratio (DPR) is 43.92%.
In other news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.75, for a total value of $882,000.00. Following the transaction, the director now owns 371,509 shares in the company, valued at approximately $13,652,955.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas J. Felmer sold 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $390,000.00. Following the completion of the transaction, the vice president now owns 78,474 shares in the company, valued at approximately $3,060,486. The disclosure for this sale can be found here. 15.60% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BRC. Teachers Advisors LLC grew its stake in Brady Corporation by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 77,639 shares of the industrial products company’s stock worth $3,001,000 after buying an additional 2,096 shares during the last quarter. Bank of America Corp DE grew its stake in Brady Corporation by 83.6% during the 1st quarter. Bank of America Corp DE now owns 82,554 shares of the industrial products company’s stock worth $3,191,000 after buying an additional 37,589 shares during the last quarter. State Street Corp grew its stake in Brady Corporation by 7.0% during the 1st quarter. State Street Corp now owns 1,121,048 shares of the industrial products company’s stock worth $43,327,000 after buying an additional 73,113 shares during the last quarter. Bank of Montreal Can grew its stake in Brady Corporation by 909.6% during the 2nd quarter. Bank of Montreal Can now owns 96,594 shares of the industrial products company’s stock worth $3,275,000 after buying an additional 87,026 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Brady Corporation by 79.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,428 shares of the industrial products company’s stock worth $319,000 after buying an additional 4,168 shares during the last quarter. Institutional investors and hedge funds own 74.47% 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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