Zacks Investment Research cut shares of Barnes Group (NYSE:B) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
B has been the topic of a number of other reports. ValuEngine upgraded shares of Barnes Group from a hold rating to a buy rating in a research report on Sunday, December 31st. SunTrust Banks reiterated a hold rating and issued a $67.00 price objective on shares of Barnes Group in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $67.00.
Shares of Barnes Group stock opened at $62.14 on Wednesday. Barnes Group has a 12 month low of $51.03 and a 12 month high of $72.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.67 and a current ratio of 2.43. The firm has a market capitalization of $3,327.15, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. The firm had revenue of $373.00 million for the quarter, compared to analyst estimates of $357.77 million. During the same period last year, the firm posted $0.67 EPS. Barnes Group’s quarterly revenue was up 15.1% on a year-over-year basis. equities research analysts expect that Barnes Group will post 3.07 EPS for the current fiscal year.
In related news, Director Richard J. Hipple bought 1,300 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $62.06 per share, for a total transaction of $80,678.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Marian Acker sold 7,860 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total transaction of $496,123.20. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Barnes Group by 1.0% in the 4th quarter. BlackRock Inc. now owns 6,292,106 shares of the industrial products company’s stock worth $398,101,000 after buying an additional 64,858 shares in the last quarter. Wasatch Advisors Inc. boosted its position in shares of Barnes Group by 60.9% in the 4th quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock worth $130,545,000 after buying an additional 781,002 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Barnes Group by 3.5% in the 4th quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock worth $117,529,000 after buying an additional 62,317 shares in the last quarter. Congress Asset Management Co. MA boosted its position in shares of Barnes Group by 3.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,216,387 shares of the industrial products company’s stock worth $76,961,000 after buying an additional 41,104 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Barnes Group by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 414,112 shares of the industrial products company’s stock worth $26,200,000 after buying an additional 11,669 shares in the last quarter. Institutional investors own 87.82% of the company’s stock.
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Barnes Group Company Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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