Analysts Set Brady Corp (NYSE:BRC) Target Price at $45.67

Shares of Brady Corp (NYSE:BRC) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $45.67.

Several equities research analysts have recently weighed in on BRC shares. Zacks Investment Research downgraded shares of Brady from a “buy” rating to a “sell” rating in a research report on Monday, November 11th. Northcoast Research downgraded shares of Brady from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Bank of America boosted their price objective on shares of Brady from $46.00 to $49.00 and gave the company an “underperform” rating in a research report on Monday, September 9th. Finally, ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Shares of BRC traded up $0.16 during midday trading on Friday, hitting $55.00. The company had a trading volume of 9,278 shares, compared to its average volume of 247,797. The company’s 50 day moving average price is $54.99 and its 200 day moving average price is $50.78. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.80 and a beta of 0.92. Brady has a 52 week low of $40.04 and a 52 week high of $58.83.

Brady (NYSE:BRC) last released its earnings results on Friday, September 6th. The industrial products company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. The company had revenue of $295.30 million during the quarter, compared to the consensus estimate of $298.90 million. Brady had a net margin of 11.31% and a return on equity of 16.15%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, research analysts predict that Brady will post 2.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 9th. This is an increase from Brady’s previous quarterly dividend of $0.21. Brady’s dividend payout ratio is currently 35.37%.

In related news, Director Frank W. Harris sold 24,817 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $5.52, for a total transaction of $136,989.84. Also, VP Thomas J. Felmer sold 1,142 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $53.95, for a total transaction of $61,610.90. Following the sale, the vice president now directly owns 66,813 shares of the company’s stock, valued at approximately $3,604,561.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,556 shares of company stock valued at $5,504,501. Insiders own 15.60% of the company’s stock.

Several large investors have recently made changes to their positions in BRC. CWM LLC boosted its stake in Brady by 474.0% during the 3rd quarter. CWM LLC now owns 574 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 474 shares during the period. KBC Group NV acquired a new position in Brady during the 2nd quarter valued at about $59,000. Krane Funds Advisors LLC acquired a new position in Brady during the 2nd quarter valued at about $60,000. Advisors Preferred LLC acquired a new position in Brady during the 2nd quarter valued at about $112,000. Finally, Contravisory Investment Management Inc. acquired a new position in Brady during the 2nd quarter valued at about $126,000. 79.92% of the stock is owned by institutional investors and hedge funds.

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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