Barnes Group, Inc. (NYSE:B)‘s stock had its “hold” rating reiterated by SunTrust Banks, Inc. in a note issued to investors on Thursday. They currently have a $60.00 price target on the industrial products company’s stock. SunTrust Banks, Inc.’s target price indicates a potential downside of 14.88% from the company’s current price.
A number of other equities research analysts have also recently issued reports on B. ValuEngine cut Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub upgraded Barnes Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. upped their price objective on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG upped their price objective on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.75.
Barnes Group (NYSE:B) traded up 1.45% during mid-day trading on Thursday, hitting $71.51. 135,726 shares of the stock were exchanged. Barnes Group has a 12-month low of $37.88 and a 12-month high of $72.28. The stock has a market capitalization of $3.85 billion, a P/E ratio of 25.00 and a beta of 1.45. The firm has a 50-day moving average price of $66.35 and a 200-day moving average price of $59.09.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The company had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was up 18.8% compared to the same quarter last year. Equities analysts predict that Barnes Group will post $2.90 earnings per share for the current fiscal year.
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In related news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas O. Barnes sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total value of $46,221.10. The disclosure for this sale can be found here. Insiders have sold a total of 8,755 shares of company stock worth $528,361 over the last three months. 8.50% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of B. UBS Asset Management Americas Inc. increased its holdings in shares of Barnes Group by 40.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 30,227 shares of the industrial products company’s stock worth $1,552,000 after acquiring an additional 8,778 shares during the last quarter. Mason Street Advisors LLC grew its holdings in Barnes Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 11,705 shares of the industrial products company’s stock valued at $601,000 after buying an additional 769 shares in the last quarter. Arizona State Retirement System grew its holdings in Barnes Group by 1.6% in the 1st quarter. Arizona State Retirement System now owns 26,126 shares of the industrial products company’s stock valued at $1,341,000 after buying an additional 400 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Barnes Group by 21.9% in the 1st quarter. OppenheimerFunds Inc. now owns 18,810 shares of the industrial products company’s stock valued at $965,000 after buying an additional 3,380 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Barnes Group by 1.9% in the 1st quarter. Legal & General Group Plc now owns 88,252 shares of the industrial products company’s stock valued at $4,529,000 after buying an additional 1,673 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.
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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