Barnes Group (NYSE:B) Lifted to “Buy” at ValuEngine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Barnes Group (NYSE:B)

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