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 Tuesday, March 20th. They currently have $70.00 price target 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. “
A number of other equities research analysts also recently issued reports on B. ValuEngine upgraded shares of Barnes Group from a hold rating to a buy rating in a report on Sunday, December 31st. SunTrust Banks restated a hold rating and issued a $67.00 target price on shares of Barnes Group in a report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given 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 NYSE B traded up $0.23 during midday trading on Tuesday, reaching $60.48. 207,055 shares of the stock were exchanged, compared to its average volume of 216,008. The company has a market cap of $3,241.44, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.99 and a beta of 1.32. Barnes Group has a 52-week low of $49.31 and a 52-week high of $72.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 1.67.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $373.00 million during the quarter, compared to the consensus estimate of $357.77 million. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. analysts anticipate that Barnes Group will post 3.07 EPS for the current year.
In other Barnes Group news, Director Thomas O. Barnes sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $63.36, for a total transaction of $107,712.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marian Acker sold 7,860 shares of the business’s stock in a transaction that occurred 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.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Barnes Group by 156.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 1,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Barnes Group by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 1,003 shares in the last quarter. Bessemer Group Inc. raised its holdings in Barnes Group by 2,284.0% in the fourth quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 2,992 shares in the last quarter. Visionary Asset Management Inc. acquired a new stake in Barnes Group in the third quarter valued at $216,000. Finally, Virtu Financial LLC acquired a new stake in Barnes Group in the fourth quarter valued at $222,000. Institutional investors own 87.82% 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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