Barnes Group (B) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $74.00 target price on the industrial products company’s stock.

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. “

Other research analysts have also issued reports about the company. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a research note on Sunday, December 31st. SunTrust Banks reiterated a hold rating and set a $67.00 price objective on shares of Barnes Group in a research note on Tuesday. Finally, Robert W. Baird reiterated a hold rating and set a $65.00 price objective on shares of Barnes Group in a research note on Sunday, October 29th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $68.17.

Barnes Group (NYSE:B) traded up $0.16 during trading on Wednesday, reaching $67.79. The company’s stock had a trading volume of 161,776 shares, compared to its average volume of 210,975. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. Barnes Group has a 1 year low of $45.47 and a 1 year high of $72.87. The firm has a market capitalization of $3,630.00, a price-to-earnings ratio of 23.87, a P/E/G ratio of 2.17 and a beta of 1.35.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. sell-side analysts forecast 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 firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were 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. Company insiders own 8.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. YorkBridge Wealth Partners LLC increased its position 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 worth $109,000 after purchasing an additional 1,517 shares during the period. Pacad Investment Ltd. increased its position in Barnes Group by 5.9% in the second 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. acquired a new stake in Barnes Group in the second quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Barnes Group by 9.9% in the second 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 increased its position in Barnes Group by 16.0% in the second 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. Institutional investors own 86.29% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Barnes Group (B) Raised to Buy at Zacks Investment Research” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/01/13/barnes-group-b-raised-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Barnes Group (B)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Barnes Group (NYSE:B)

Receive News & Ratings for Barnes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply