Barnes Group, Inc. (NYSE:B) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, November 1st.
According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
Several other research analysts also recently commented on the company. BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their target price on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG increased their target price on Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $60.00 target price on shares of Barnes Group in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.60.
Shares of Barnes Group (NYSE:B) traded up $0.41 on Wednesday, reaching $63.39. The company’s stock had a trading volume of 197,742 shares, compared to its average volume of 259,992. The stock has a market capitalization of $3,398.37, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. Barnes Group has a fifty-two week low of $43.97 and a fifty-two week high of $72.87.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The company had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. During the same quarter last year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. equities research analysts forecast that Barnes Group will post 2.85 EPS for the current year.
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In other news, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total transaction of $99,540.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,955 shares of company stock valued at $1,143,182 in the last quarter. Company insiders own 8.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC boosted its stake in Barnes Group by 4,461.8% in the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 1,517 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of Barnes Group by 5.9% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Barnes Group during the 2nd quarter worth approximately $109,000. LS Investment Advisors LLC increased its stake in shares of Barnes Group by 4.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 85 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Barnes Group by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 188 shares during the last quarter. 86.36% of the stock is currently owned by hedge funds and other institutional investors.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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