Barnes Group, Inc. (B) Price Target Increased to $70.00 by Analysts at Deutsche Bank AG
Barnes Group, Inc. (NYSE:B) had its target price upped by Deutsche Bank AG from $65.00 to $70.00 in a research report sent to investors on Friday morning. The firm currently has a buy rating on the industrial products company’s stock.
A number of other research firms also recently issued reports on B. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a research note on Friday, September 1st. Oppenheimer Holdings, Inc. boosted their price target on Barnes Group from $58.00 to $67.00 and gave the company an outperform rating in a research note on Monday, July 31st. BidaskClub upgraded Barnes Group from a buy rating to a strong-buy rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a buy rating and set a $66.00 price objective on shares of Barnes Group in a research note on Thursday, June 8th. Finally, Zacks Investment Research upgraded Barnes Group from a hold rating to a buy rating and set a $61.00 price objective for the company in a research note on Monday, May 22nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $62.60.
Barnes Group (NYSE B) traded up 2.66% during trading on Friday, reaching $64.95. 552,956 shares of the company traded hands. Barnes Group has a 52 week low of $37.88 and a 52 week high of $65.20. The company’s 50-day moving average price is $60.64 and its 200 day moving average price is $55.99. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 22.71 and a beta of 1.43.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities research analysts expect that Barnes Group will post $2.89 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 24th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.86%. Barnes Group’s dividend payout ratio is presently 19.58%.
In related news, Director Thomas O. Barnes sold 755 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total transaction of $46,221.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Marian Acker sold 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,755 shares of company stock worth $528,361. 8.50% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. raised its holdings in 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 buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Barnes Group during the 2nd quarter valued at $109,000. LS Investment Advisors LLC raised its holdings in Barnes Group by 4.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 buying an additional 188 shares during the period. Finally, Acrospire Investment Management LLC raised its holdings in 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 buying an additional 300 shares during the period. Institutional investors own 85.27% of the company’s stock.
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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