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.
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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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