Zacks Investment Research Downgrades Brady (BRC) to Sell

Brady (NYSE:BRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

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. “

Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Brady from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Northcoast Research reiterated a “buy” rating on shares of Brady in a research note on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.00.

BRC stock traded up $0.90 during trading on Tuesday, hitting $47.19. 177,800 shares of the company’s stock were exchanged, compared to its average volume of 356,164. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.68 and a beta of 0.98. Brady has a 52-week low of $36.00 and a 52-week high of $50.12. The company has a quick ratio of 2.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

Brady (NYSE:BRC) last posted its earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $285.50 million. Brady had a return on equity of 15.17% and a net margin of 10.31%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Brady will post 2.31 EPS for the current year.

In other Brady news, VP Bentley Curran sold 21,814 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $47.52, for a total value of $1,036,601.28. Following the completion of the sale, the vice president now owns 39,828 shares in the company, valued at $1,892,626.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank W. Harris sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $48.04, for a total value of $96,080.00. Following the completion of the sale, the director now owns 27,379 shares of the company’s stock, valued at approximately $1,315,287.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,779 shares of company stock valued at $4,753,943. 15.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its stake in Brady by 107.7% in the first quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock valued at $42,000 after buying an additional 477 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Brady by 44.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,595 shares of the industrial products company’s stock valued at $113,000 after buying an additional 793 shares during the last quarter. Advisor Group Inc. lifted its stake in Brady by 45.1% in the fourth quarter. Advisor Group Inc. now owns 2,717 shares of the industrial products company’s stock valued at $118,000 after buying an additional 845 shares during the last quarter. C M Bidwell & Associates Ltd. increased its holdings in shares of Brady by 73.1% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,965 shares of the industrial products company’s stock valued at $184,000 after purchasing an additional 1,675 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in shares of Brady in the first quarter valued at approximately $207,000. Institutional investors own 78.99% of the company’s stock.

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 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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