Baird downgrades rating for Brady Corp. stock

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.

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