Global Brass and Copper (BRSS) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Global Brass and Copper (NYSE:BRSS) from a hold rating to a buy rating in a research note issued to investors on Tuesday. They currently have $37.00 price objective on the industrial products company’s stock.

According to Zacks, “Global Brass & Copper Holdings, Inc. is a converter, fabricator, distributor and processor of copper and brass products primarily in North America. The Company’s product include sheet, strip, foil, rod, tube and fabricated metal component that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. It also engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products. The company serves building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. Global Brass & Copper Holdings, Inc. is headquartered in Schaumburg, United States. “

A number of other equities analysts also recently weighed in on BRSS. BidaskClub raised Global Brass and Copper from a strong sell rating to a sell rating in a research report on Thursday, September 28th. ValuEngine downgraded Global Brass and Copper from a buy rating to a hold rating in a research report on Saturday, November 4th.

Global Brass and Copper (BRSS) traded up $0.70 during trading hours on Tuesday, hitting $33.80. The company had a trading volume of 92,100 shares, compared to its average volume of 82,750. The company has a current ratio of 3.26, a quick ratio of 2.00 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $725.02, a P/E ratio of 14.02 and a beta of 0.47. Global Brass and Copper has a twelve month low of $28.10 and a twelve month high of $39.85.

Global Brass and Copper (NYSE:BRSS) last released its earnings results on Thursday, November 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $378.60 million for the quarter, compared to the consensus estimate of $376.00 million. Global Brass and Copper had a return on equity of 47.75% and a net margin of 3.61%. Global Brass and Copper’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. research analysts anticipate that Global Brass and Copper will post 2.47 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Global Brass and Copper by 7.1% in the second quarter. Vanguard Group Inc. now owns 2,122,515 shares of the industrial products company’s stock valued at $64,843,000 after purchasing an additional 141,301 shares during the last quarter. LSV Asset Management grew its position in shares of Global Brass and Copper by 12.6% in the second quarter. LSV Asset Management now owns 1,024,836 shares of the industrial products company’s stock valued at $31,308,000 after purchasing an additional 114,791 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Global Brass and Copper by 5.2% in the second quarter. JPMorgan Chase & Co. now owns 951,048 shares of the industrial products company’s stock valued at $29,055,000 after buying an additional 46,827 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Global Brass and Copper by 10.4% in the second quarter. Renaissance Technologies LLC now owns 903,729 shares of the industrial products company’s stock valued at $27,609,000 after buying an additional 84,929 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Global Brass and Copper by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 846,170 shares of the industrial products company’s stock valued at $28,601,000 after buying an additional 22,849 shares during the period. 94.92% of the stock is currently owned by institutional investors.

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About Global Brass and Copper

Global Brass and Copper Holdings, Inc is a converter, fabricator, processor and distributor of specialized non-ferrous products, including a range of sheet, strip, foil, rod, tube and fabricated metal component products. The Company operates through three segments: Olin Brass, Chase Brass and A.J. Oster.

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