Brady (BRC) Price Target Raised to $35.00 at Bank of America

Brady (NYSE:BRC) had its price objective increased by equities research analysts at Bank of America from $34.00 to $35.00 in a report released on Friday, November 17th. The brokerage currently has an “underperform” rating on the industrial products company’s stock. Bank of America’s target price indicates a potential downside of 9.56% from the company’s previous close.

BRC has been the subject of several other reports. Zacks Investment Research cut shares of Brady from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Robert W. Baird reiterated a “hold” rating and set a $36.00 target price on shares of Brady in a research note on Friday, October 13th. Finally, SunTrust Banks reiterated a “hold” rating and set a $38.00 target price on shares of Brady in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.60.

Shares of Brady (NYSE:BRC) traded down $0.20 during trading on Friday, hitting $38.70. 90,117 shares of the stock were exchanged, compared to its average volume of 202,713. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.19 and a quick ratio of 1.62. Brady has a twelve month low of $31.70 and a twelve month high of $40.50. The firm has a market capitalization of $2,010.76, a PE ratio of 21.67, a price-to-earnings-growth ratio of 2.69 and a beta of 1.19.

Brady (NYSE:BRC) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. equities research analysts anticipate that Brady will post 1.93 EPS for the current year.

In other news, Director Elizabeth P. Bruno sold 24,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the sale, the director now owns 371,509 shares of the company’s stock, valued at approximately $13,652,955.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley C. Richardson sold 1,400 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total transaction of $54,810.00. Following the sale, the director now directly owns 2,511 shares in the company, valued at approximately $98,305.65. The disclosure for this sale can be found here. Insiders sold a total of 39,380 shares of company stock worth $1,484,060 in the last three months. Insiders own 15.60% of the company’s stock.

A number of large investors have recently modified their holdings of BRC. JPMorgan Chase & Co. grew its holdings in Brady by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock worth $123,045,000 after acquiring an additional 345,775 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Brady by 35.5% during the 2nd quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock worth $32,425,000 after acquiring an additional 250,713 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Brady by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after acquiring an additional 192,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Brady by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after acquiring an additional 159,933 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Brady during the 2nd quarter worth about $5,218,000. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

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Brady Company Profile

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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