Is Brady Corp. overvalued or undervalued?

As of 1 September 2023, the valuation grade for Brady Corp. has moved from attractive to fair, indicating a shift in its perceived value. Based on the current metrics, Brady Corp. appears to be fairly valued. The P/E ratio stands at 18, while the EV to EBITDA ratio is 12.41, and the Price to Book Value is 3.02, suggesting that the stock is reasonably priced compared to its earnings and book value.
In comparison to its peers, Advanced Drainage Systems, Inc. has a higher P/E ratio of 27.44, while YETI Holdings, Inc. shows a lower P/E of 16.36, highlighting a diverse valuation landscape within the industry. Notably, Brady Corp. has outperformed the S&P 500 over the past week and month, with returns of 2.33% and 12.17%, respectively, although it has lagged behind in the longer term, particularly over the past year.