Brady Corporation (NYSE:BRC) had its target price boosted by Bank of America Corporation from $33.00 to $34.00 in a research report report published on Friday morning. They currently have an underperform rating on the industrial products company’s stock.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Brady Corporation from a hold rating to a buy rating and set a $43.00 price objective on the stock in a research report on Monday, May 15th. Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the company a hold rating in a research report on Thursday, August 24th. Finally, BidaskClub lowered Brady Corporation from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Brady Corporation presently has an average rating of Hold and an average price target of $38.20.
Brady Corporation (NYSE:BRC) opened at 35.90 on Friday. The firm has a 50-day moving average price of $33.09 and a 200-day moving average price of $36.18. The company has a market cap of $1.84 billion, a PE ratio of 19.41 and a beta of 1.11. Brady Corporation has a 52-week low of $31.70 and a 52-week high of $40.50.
Brady Corporation (NYSE:BRC) last announced its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. On average, analysts forecast that Brady Corporation will post $1.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, October 6th. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 annualized dividend and a dividend yield of 9.25%. Brady Corporation’s dividend payout ratio is 44.57%.
Several institutional investors have recently made changes to their positions in BRC. Wells Fargo & Company MN grew its position in Brady Corporation by 9.1% during the 1st quarter. Wells Fargo & Company MN now owns 705,758 shares of the industrial products company’s stock worth $27,278,000 after acquiring an additional 58,851 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Brady Corporation by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 67,460 shares of the industrial products company’s stock worth $2,604,000 after acquiring an additional 4,129 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Brady Corporation during the 1st quarter worth approximately $322,000. Bank of New York Mellon Corp grew its position in Brady Corporation by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 767,217 shares of the industrial products company’s stock worth $29,652,000 after acquiring an additional 27,169 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in Brady Corporation by 1.6% during the 1st quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 76.57% 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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