Barnes Group (NYSE:B) PT Raised to $68.00 at Citigroup

Barnes Group (NYSE:B) had its price target boosted by investment analysts at Citigroup from $67.00 to $68.00 in a research note issued on Monday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup‘s price target would suggest a potential upside of 11.42% from the company’s current price.

A number of other analysts have also weighed in on the stock. Oppenheimer set a $65.00 price objective on shares of Barnes Group and gave the stock a “buy” rating in a research note on Friday, October 25th. SunTrust Banks upped their price objective on shares of Barnes Group from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. UBS Group upped their price objective on shares of Barnes Group from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, ValuEngine raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Barnes Group presently has a consensus rating of “Hold” and an average target price of $61.88.

NYSE B opened at $61.03 on Monday. The company’s 50-day moving average price is $59.31 and its 200-day moving average price is $53.20. The company has a current ratio of 2.23, a quick ratio of 1.49 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.11 billion, a PE ratio of 18.95, a PEG ratio of 1.92 and a beta of 1.43. Barnes Group has a 12 month low of $42.39 and a 12 month high of $62.19.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 25th. The industrial products company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. Barnes Group had a net margin of 10.38% and a return on equity of 13.61%. The firm had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.42 million. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that Barnes Group will post 3.18 earnings per share for the current year.

In other Barnes Group news, VP Marian Acker sold 3,054 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $57.03, for a total transaction of $174,169.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Dempsey sold 57,389 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $61.28, for a total transaction of $3,516,797.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,256 shares of company stock valued at $6,863,018. 8.35% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC raised its position in shares of Barnes Group by 0.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 493,552 shares of the industrial products company’s stock valued at $25,438,000 after purchasing an additional 1,929 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Barnes Group by 226.2% in the 3rd quarter. Parallel Advisors LLC now owns 672 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 466 shares during the last quarter. First Trust Advisors LP raised its position in shares of Barnes Group by 322.3% in the 2nd quarter. First Trust Advisors LP now owns 60,337 shares of the industrial products company’s stock valued at $3,399,000 after purchasing an additional 46,050 shares during the last quarter. BlackRock Inc. raised its position in shares of Barnes Group by 1.7% in the 2nd quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock valued at $397,045,000 after purchasing an additional 114,410 shares during the last quarter. Finally, First National Bank of Omaha raised its position in shares of Barnes Group by 5.3% in the 3rd quarter. First National Bank of Omaha now owns 28,380 shares of the industrial products company’s stock valued at $1,463,000 after purchasing an additional 1,430 shares during the last quarter. 86.72% of the stock is owned by institutional investors and hedge funds.

About Barnes Group

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, automation, personal care, packaging, electronics, and medical devices.

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