Brady (NYSE:BRC) Hits New 52-Week High – Should You Buy?

Shares of Brady Corporation (NYSE:BRC) reached a new 52-week high during trading on Tuesday . The company traded as high as $78.22 and last traded at $76.54, with a volume of 161957 shares. The stock had previously closed at $77.59.

Analysts Set New Price Targets

A number of research firms have commented on BRC. Wall Street Zen raised shares of Brady from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Sidoti raised shares of Brady to a “strong-buy” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Brady presently has an average rating of “Strong Buy”.

Brady Trading Down 0.7%

The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.19 and a beta of 0.83. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average price is $71.12 and its two-hundred day moving average price is $70.50.

Institutional Investors Weigh In On Brady

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Brady in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in Brady by 89.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock valued at $46,000 after buying an additional 322 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Brady by 156.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $69,000 after buying an additional 618 shares during the last quarter. Blue Trust Inc. raised its holdings in Brady by 23.9% during the 2nd quarter. Blue Trust Inc. now owns 1,037 shares of the industrial products company’s stock valued at $70,000 after buying an additional 200 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Brady during the 1st quarter valued at $74,000. 76.28% of the stock is currently owned by institutional investors.

Brady Company Profile

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.