Brady (NYSE:BRC) Cut to Hold at Wall Street Zen

Key Points

• Brady (NYSE:BRC) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, following a prior upgrade to "strong-buy" by Sidoti.
• The company's recent earnings report showed an EPS of $1.22, meeting expectations, but revenue fell short at $382.59 million compared to a consensus estimate of $386.61 million.
• Institutional investors hold a significant stake in Brady, owning approximately 76.28% of the company's stock, with several institutions increasing their positions recently.

Brady (NYSE:BRC - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Separately, Sidoti upgraded shares of Brady to a "strong-buy" rating in a report on Monday, May 19th.

Brady Stock Up 2.7%

Shares of BRC traded up $1.88 during mid-day trading on Friday, hitting $71.62. 111,394 shares of the company traded hands, compared to its average volume of 227,126. Brady has a 1-year low of $62.70 and a 1-year high of $77.68. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.39 billion, a PE ratio of 17.72 and a beta of 0.81. The business has a 50 day moving average of $69.28 and a 200 day moving average of $70.45.

Brady (NYSE:BRC - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.22. Brady had a net margin of 13.35% and a return on equity of 19.57%. The firm had revenue of $382.59 million for the quarter, compared to the consensus estimate of $386.61 million. During the same quarter in the prior year, the company posted $1.09 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Brady will post 4.55 EPS for the current year.

Hedge Funds Weigh In On Brady

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in Brady by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 60,989 shares of the industrial products company's stock worth $4,145,000 after buying an additional 635 shares during the period. Legal & General Group Plc grew its stake in shares of Brady by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 118,492 shares of the industrial products company's stock worth $8,054,000 after purchasing an additional 1,006 shares during the period. Seizert Capital Partners LLC grew its stake in shares of Brady by 194.8% during the 2nd quarter. Seizert Capital Partners LLC now owns 208,461 shares of the industrial products company's stock worth $14,169,000 after purchasing an additional 137,748 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in shares of Brady during the 2nd quarter worth approximately $1,165,000. Finally, Intech Investment Management LLC grew its stake in shares of Brady by 2.7% during the 2nd quarter. Intech Investment Management LLC now owns 16,648 shares of the industrial products company's stock worth $1,132,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 76.28% of the company's stock.

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 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.