Brady Corporation (BRC) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Brady Corporation (NYSE:BRC) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $41.00 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. “
A number of other research analysts have also issued reports on BRC. Robert W. Baird set a $36.00 price target on Brady Corporation and gave the stock a hold rating in a research report on Thursday, August 24th. Bank of America Corporation boosted their price target on Brady Corporation from $33.00 to $34.00 and gave the stock an underperform rating in a research report on Friday, September 8th. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $38.00 price target on shares of Brady Corporation in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $38.80.
Brady Corporation (NYSE:BRC) opened at $37.90 on Wednesday. Brady Corporation has a 12-month low of $31.70 and a 12-month high of $40.50. The stock has a market capitalization of $1,960.00, a P/E ratio of 21.49, a P/E/G ratio of 2.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.61 and a current ratio of 2.18.
Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $280.47 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts forecast that Brady Corporation will post 1.92 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date was Friday, October 6th. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s payout ratio is 45.36%.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 371,509 shares in the company, valued at approximately $13,652,955.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Brady Corporation by 1.3% in the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after buying an additional 71,895 shares during the period. Vanguard Group Inc. lifted its holdings 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 during the period. JPMorgan Chase & Co. lifted its holdings in shares of Brady Corporation by 3.9% in the third quarter. JPMorgan Chase & Co. now owns 3,770,218 shares of the industrial products company’s stock valued at $143,457,000 after buying an additional 140,585 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Brady Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,714,694 shares of the industrial products company’s stock valued at $58,128,000 after buying an additional 16,270 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings 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 during the period. Institutional investors and hedge funds own 75.68% 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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