Robert W. Baird & Co. Inc. downgraded Milwaukee-based Brady Corp.’s stock from “outperform” to “neutral” with a price target of $33.00, down from $41.00, after a disappointing quarterly report Thursday.
Brady reported a fiscal fourth quarter net loss of $177.3 million, or $3.41 per share, compared with a net profit of $11.7 million, or 40 cents per share, in the same period a year ago.
Brady’s stock shares, trading with the ticker symbol of BRC, closed at $30.52 Thursday, near a 52-week low of $29.11.
