Brady (NYSE:BRC) Sets New 12-Month High - What's Next?

Key Points

• Brady Corporation shares reached a new 52-week high of $78.22, with recent trading at $76.54 and a volume of 161,957 shares.
• Wall Street analysts have given Brady a consensus rating of "Strong Buy", with significant upgrades from Sidoti and Wall Street Zen.
• Hedge funds significantly increased their stakes in Brady, with Neuberger Berman Group growing its position by 196.6% in the first quarter.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BRC. Sidoti upgraded shares of Brady to a "strong-buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Brady from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

Brady Trading Down 0.7%

The firm's 50 day moving average is $71.12 and its 200 day moving average is $70.50. The company has a market cap of $3.67 billion, a PE ratio of 19.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.87 and a quick ratio of 1.26.

Hedge Funds Weigh In On Brady

Several hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its stake in Brady by 196.6% during the first quarter. Neuberger Berman Group LLC now owns 1,614,375 shares of the industrial products company's stock valued at $114,039,000 after acquiring an additional 1,070,000 shares in the last quarter. First Trust Advisors LP grew its stake in Brady by 30.7% during the second quarter. First Trust Advisors LP now owns 1,169,245 shares of the industrial products company's stock valued at $79,474,000 after acquiring an additional 274,982 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Brady by 22.1% during the second quarter. Champlain Investment Partners LLC now owns 821,401 shares of the industrial products company's stock valued at $55,831,000 after acquiring an additional 148,471 shares in the last quarter. Wellington Management Group LLP grew its stake in Brady by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 674,593 shares of the industrial products company's stock valued at $49,819,000 after acquiring an additional 26,769 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Brady by 2.8% during the first quarter. Royce & Associates LP now owns 623,734 shares of the industrial products company's stock valued at $44,061,000 after purchasing an additional 17,018 shares during the last quarter. Hedge funds and other institutional investors own 76.28% 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.