Barnes Group (B) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a sell rating to a hold rating in a research note published on Tuesday 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. “

A number of other research analysts have also recently issued reports on the company. DA Davidson set a $67.00 price target on Barnes Group and gave the company a hold rating in a report on Tuesday, July 31st. SunTrust Banks cut their price target on Barnes Group from $63.00 to $61.00 and set a hold rating for the company in a report on Monday, October 29th. ValuEngine cut Barnes Group from a buy rating to a hold rating in a report on Saturday, October 6th. Oppenheimer lifted their price target on Barnes Group from $75.00 to $82.00 and gave the company an outperform rating in a report on Tuesday, September 25th. Finally, UBS Group initiated coverage on Barnes Group in a report on Wednesday, August 15th. They issued a buy rating and a $80.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $72.00.

Shares of NYSE B opened at $59.10 on Tuesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 2.59 and a beta of 1.52. Barnes Group has a 52-week low of $52.42 and a 52-week high of $72.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.27 and a quick ratio of 1.50.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). The company had revenue of $369.80 million for the quarter, compared to the consensus estimate of $379.27 million. Barnes Group had a net margin of 4.60% and a return on equity of 13.39%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, sell-side analysts predict that Barnes Group will post 3.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 27th will be issued a $0.16 dividend. The ex-dividend date is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. Barnes Group’s dividend payout ratio is 22.22%.

Institutional investors have recently added to or reduced their stakes in the stock. Claraphi Advisory Network LLC acquired a new stake in Barnes Group in the third quarter worth about $247,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Barnes Group by 9.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,244 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 1,009 shares during the period. Wasatch Advisors Inc. increased its position in Barnes Group by 24.4% in the third quarter. Wasatch Advisors Inc. now owns 3,153,172 shares of the industrial products company’s stock worth $223,970,000 after purchasing an additional 618,888 shares during the period. Parametrica Management Ltd acquired a new stake in Barnes Group in the third quarter worth about $400,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Barnes Group by 2,058.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 132,835 shares of the industrial products company’s stock worth $9,435,000 after purchasing an additional 126,680 shares during the period. 84.95% 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, consumer products, packaging, electronics, medical devices, and energy.

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