Zacks Investment Research Lowers Brady (BRC) to Hold

Zacks Investment Research cut shares of Brady (NYSE:BRC) from a buy rating to a hold rating in a research note published on Thursday morning.

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. “

A number of other research firms have also recently weighed in on BRC. Sidoti cut shares of Brady from a buy rating to a neutral rating in a research note on Tuesday, September 18th. Bank of America set a $42.00 target price on shares of Brady and gave the company a sell rating in a research note on Monday, September 17th. SunTrust Banks restated a hold rating and set a $43.00 target price on shares of Brady in a research note on Monday, November 19th. Finally, ValuEngine upgraded Brady from a hold rating to a buy rating in a research report on Thursday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $44.00.

Shares of NYSE:BRC opened at $41.34 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.09 and a debt-to-equity ratio of 0.07. Brady has a 1-year low of $35.00 and a 1-year high of $47.35. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.41 and a beta of 1.21.

Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, November 15th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. Brady had a net margin of 8.15% and a return on equity of 15.01%. The business had revenue of $293.20 million for the quarter, compared to the consensus estimate of $295.67 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts predict that Brady will post 2.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Thursday, January 10th will be issued a $0.2125 dividend. The ex-dividend date is Wednesday, January 9th. This represents a $0.85 dividend on an annualized basis and a yield of 2.06%. Brady’s dividend payout ratio is presently 41.67%.

In related news, VP Russell Shaller sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. Following the transaction, the vice president now directly owns 55,851 shares of the company’s stock, valued at approximately $2,401,593. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Bentley Curran sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $44.84, for a total value of $672,600.00. Following the completion of the transaction, the vice president now directly owns 46,364 shares in the company, valued at $2,078,961.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 179,614 shares of company stock worth $7,858,550. 15.60% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in BRC. Principal Financial Group Inc. lifted its holdings in shares of Brady by 2.8% in the first quarter. Principal Financial Group Inc. now owns 399,529 shares of the industrial products company’s stock worth $14,843,000 after buying an additional 10,963 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Brady in the 2nd quarter worth $490,000. TD Asset Management Inc. purchased a new stake in Brady in the 2nd quarter worth $2,624,000. Wells Fargo & Company MN lifted its position in shares of Brady by 12.9% in the second quarter. Wells Fargo & Company MN now owns 1,413,776 shares of the industrial products company’s stock worth $54,501,000 after buying an additional 161,439 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Brady in the second quarter worth about $393,000. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

About Brady

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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