ValuEngine upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research report sent to investors on Sunday, December 31st.
A number of other equities research analysts have also commented on the stock. Robert W. Baird reissued a hold rating and set a $65.00 price objective on shares of Barnes Group in a report on Sunday, October 29th. Deutsche Bank raised their target price on shares of Barnes Group from $65.00 to $70.00 and gave the company a buy rating in a research note on Friday, September 8th. SunTrust Banks reaffirmed a hold rating and issued a $60.00 target price on shares of Barnes Group in a research note on Thursday, October 12th. Finally, Zacks Investment Research lowered shares of Barnes Group from a buy rating to a hold rating in a research note on Wednesday, November 1st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Barnes Group has an average rating of Buy and a consensus target price of $68.17.
Shares of Barnes Group (NYSE:B) opened at $65.57 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. The company has a market cap of $3,540.00, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. Barnes Group has a 1 year low of $45.47 and a 1 year high of $72.87.
Barnes Group (NYSE:B) last released its earnings results on Friday, October 27th. The industrial products company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). The company had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. Barnes Group’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 earnings per share. sell-side analysts predict that Barnes Group will post 2.85 EPS for the current fiscal year.
In other news, Director Thomas O. Barnes sold 1,500 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the business’s stock in a transaction dated 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 own 8.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC boosted its stake in Barnes Group by 4,461.8% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 1,517 shares during the period. Pacad Investment Ltd. boosted its stake in Barnes Group by 5.9% in 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 during the period. Oppenheimer Asset Management Inc. bought a new position in Barnes Group in the 2nd quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 worth $122,000 after purchasing an additional 188 shares during the period. Finally, Acrospire Investment Management LLC boosted its stake in Barnes Group by 16.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.
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About Barnes Group
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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