Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research note released on Monday, September 17th. They currently have $52.00 price objective on the industrial products company’s stock.
According to Zacks, “Brady Corporation is a world leader in complete identification solutions that help companies improve productivity, performance, safety and security. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. The Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady helps identify people and enhance security by ensuring the right persons are in the right places at the right time. Brady helps customers create and maintain safer work environments and comply with regulatory standards. Brady high-performance materials clearly identify products, components and other assets, even in the most extreme conditions. “
Other research analysts also recently issued research reports about the company. ValuEngine upgraded Brady from a hold rating to a buy rating in a research note on Thursday, September 6th. Bank of America set a $42.00 price target on Brady and gave the stock a sell rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $42.25.
Shares of BRC stock traded down $0.04 on Monday, reaching $39.96. 266,584 shares of the company’s stock traded hands, compared to its average volume of 230,993. Brady has a 12-month low of $35.00 and a 12-month high of $47.35. The company has a current ratio of 2.47, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.65 and a beta of 1.16.
Brady (NYSE:BRC) last issued its earnings results on Thursday, September 13th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Brady had a return on equity of 14.67% and a net margin of 7.76%. The firm had revenue of $297.50 million for the quarter, compared to the consensus estimate of $297.04 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Brady will post 2.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th will be given a $0.85 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.51%. This is a boost from Brady’s previous quarterly dividend of $0.21. Brady’s payout ratio is currently 41.67%.
In related news, insider Helena Regina Nelligan sold 59,019 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $44.06, for a total transaction of $2,600,377.14. Following the completion of the transaction, the insider now owns 26,377 shares of the company’s stock, valued at approximately $1,162,170.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bentley Curran sold 15,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $44.84, for a total value of $672,600.00. Following the transaction, the vice president now directly owns 46,364 shares of the company’s stock, valued at approximately $2,078,961.76. The disclosure for this sale can be found here. Insiders sold 181,281 shares of company stock valued at $7,913,313 in the last ninety days. Insiders own 15.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fort L.P. acquired a new position in shares of Brady during the 2nd quarter worth about $103,000. Bruderman Asset Management LLC acquired a new position in shares of Brady during the 2nd quarter worth about $115,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Brady by 95.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,941 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 1,921 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Brady in the 2nd quarter valued at approximately $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Brady in the 1st quarter valued at approximately $237,000. 75.59% of the stock is owned by institutional investors and hedge funds.
Brady Company Profile
Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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