Brady Co. (BRC) Lowered to “Hold” at Zacks Investment Research

Brady Co. (NYSE:BRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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 brokerages also recently issued reports on BRC. Bank of America Corporation upped their target price on shares of Brady from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, September 8th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $38.00 target price on shares of Brady in a research note on Friday, October 27th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $36.00 target price on shares of Brady in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.60.

Brady (NYSE BRC) traded up $0.75 during trading hours on Tuesday, reaching $39.20. 222,128 shares of the company traded hands, compared to its average volume of 202,460. Brady has a 1-year low of $31.70 and a 1-year high of $40.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.19 and a quick ratio of 1.62. The company has a market capitalization of $1,991.05, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.68 and a beta of 1.18.

Brady (NYSE:BRC) last posted its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Brady had a net margin of 8.90% and a return on equity of 14.21%. The business had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Brady’s quarterly revenue was up 3.6% on a year-over-year basis. analysts anticipate that Brady will post 1.93 earnings per share for the current year.

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In other news, Director Elizabeth P. Bruno sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were 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 $13,652,955.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 15.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Brady by 3.0% during the second quarter. Northern Trust Corp now owns 622,251 shares of the industrial products company’s stock valued at $21,094,000 after purchasing an additional 18,411 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Brady during the second quarter valued at approximately $5,218,000. BlackRock Inc. raised its holdings in shares of Brady by 1.3% during the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after purchasing an additional 71,895 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Brady by 10.5% during 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 purchasing an additional 345,775 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Brady by 17.9% during the second quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 1,075 shares during the last quarter. 74.47% of the stock is owned by hedge funds and other institutional investors.

About Brady

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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