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.
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