SunTrust Banks Reiterates Hold Rating for Barnes Group (NYSE:B)

Barnes Group (NYSE:B)‘s stock had its “hold” rating reaffirmed by stock analysts at SunTrust Banks in a research note issued on Tuesday, January 9th. They currently have a $67.00 target price on the industrial products company’s stock. SunTrust Banks’ price target points to a potential upside of 4.25% from the company’s current price. SunTrust Banks also issued estimates for Barnes Group’s FY2018 earnings at $3.30 EPS and FY2019 earnings at $3.71 EPS.

Several other equities research analysts also recently weighed in on B. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and issued a $65.00 price target on shares of Barnes Group in a report on Sunday, October 29th. Finally, ValuEngine cut Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.17.

Barnes Group (NYSE:B) traded down $1.93 during trading hours on Tuesday, hitting $64.27. The company had a trading volume of 164,911 shares, compared to its average volume of 184,246. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3,450.00, a P/E ratio of 22.63, a P/E/G ratio of 2.12 and a beta of 1.32. Barnes Group has a 12 month low of $46.74 and a 12 month high of $72.87.

In other news, SVP Christopher J. Stephens sold 15,700 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. grew its position 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 valued at $105,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Barnes Group during the 2nd quarter valued at about $109,000. YorkBridge Wealth Partners LLC grew its position in shares of Barnes Group by 4,461.8% during the 3rd 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Barnes Group by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 188 shares during the period. Finally, Acrospire Investment Management LLC grew its position in shares of Barnes Group by 16.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 300 shares during the period. Institutional investors own 87.66% of the company’s stock.

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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.

Analyst Recommendations for Barnes Group (NYSE:B)

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