Barnes Group (B) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $74.00 target price 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. “
Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a report on Sunday, December 31st. SunTrust Banks restated a hold rating and set a $67.00 target price on shares of Barnes Group in a report on Tuesday. Finally, Robert W. Baird restated a hold rating and set a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $68.17.
Shares of Barnes Group (NYSE B) traded up $0.16 during mid-day trading on Wednesday, reaching $67.79. The company had a trading volume of 161,776 shares, compared to its average volume of 210,975. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. The firm has a market capitalization of $3,630.00, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.35. Barnes Group has a 1 year low of $45.47 and a 1 year high of $72.87.
Barnes Group (NYSE:B) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company had revenue of $357.16 million for the quarter, compared to the consensus estimate of $351.01 million. During the same quarter last year, the business posted $0.71 EPS. Barnes Group’s quarterly revenue was up 14.6% on a year-over-year basis. analysts expect that Barnes Group will post 2.85 EPS for the current year.
In other news, Director Thomas O. Barnes sold 1,500 shares of Barnes Group stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.36, for a total transaction of $99,540.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of Barnes Group stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in B. Schwab Charles Investment Management Inc. lifted its holdings in shares of Barnes Group by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 299,075 shares of the industrial products company’s stock valued at $17,505,000 after purchasing an additional 1,514 shares in the last quarter. Prudential Financial Inc. lifted its stake in Barnes Group by 9.8% in the 2nd quarter. Prudential Financial Inc. now owns 110,963 shares of the industrial products company’s stock valued at $6,495,000 after acquiring an additional 9,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Barnes Group by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 188 shares in the last quarter. Pacad Investment Ltd. lifted its stake in Barnes Group by 5.9% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 100 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Barnes Group by 1.8% in the 2nd quarter. Swiss National Bank now owns 85,600 shares of the industrial products company’s stock valued at $5,010,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.
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Barnes Group Company Profile
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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