Barnes Group Inc. (B) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Barnes Group Inc. (NYSE:B) from a hold rating to a buy rating in a research report report published on Wednesday, May 3rd. They currently have $61.00 price target on the industrial products company’s stock.
According to Zacks, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. “
A number of other equities research analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and issued a $63.00 price objective on shares of Barnes Group in a report on Tuesday, May 2nd. SunTrust Banks, Inc. started coverage on shares of Barnes Group in a report on Thursday, January 19th. They set a hold rating and a $49.00 price target for the company. Finally, Sidoti lowered shares of Barnes Group from a buy rating to a neutral rating in a report on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $55.25.
Barnes Group (NYSE:B) traded up 1.35% on Wednesday, hitting $54.67. 196,311 shares of the stock were exchanged. The company has a 50-day moving average price of $52.82 and a 200 day moving average price of $48.83. Barnes Group has a 1-year low of $31.13 and a 1-year high of $56.51. The company has a market capitalization of $2.94 billion, a PE ratio of 20.63 and a beta of 1.45.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. The business had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that Barnes Group will post $2.78 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/05/19/barnes-group-inc-b-upgraded-to-buy-by-zacks-investment-research-updated.html.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 25th will be given a $0.14 dividend. The ex-dividend date is Tuesday, May 23rd. This is an increase from Barnes Group’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. Barnes Group’s dividend payout ratio is currently 23.11%.
In other Barnes Group news, Director Thomas O. Barnes sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $54.56, for a total transaction of $136,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary G. Benanav sold 12,735 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $49.97, for a total transaction of $636,367.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,562 shares of company stock worth $2,651,572 over the last three months. 7.80% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of B. Rhumbline Advisers boosted its position in shares of Barnes Group by 4.1% in the third quarter. Rhumbline Advisers now owns 89,900 shares of the industrial products company’s stock valued at $3,645,000 after buying an additional 3,525 shares during the period. Gotham Asset Management LLC boosted its position in shares of Barnes Group by 310.4% in the third quarter. Gotham Asset Management LLC now owns 74,031 shares of the industrial products company’s stock valued at $3,002,000 after buying an additional 55,992 shares during the period. Macquarie Group Ltd. boosted its position in shares of Barnes Group by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,750,602 shares of the industrial products company’s stock valued at $83,014,000 after buying an additional 9,047 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Barnes Group by 5.4% in the third quarter. Rothschild Asset Management Inc. now owns 593,038 shares of the industrial products company’s stock valued at $24,048,000 after buying an additional 30,377 shares during the period. Finally, Martingale Asset Management L P acquired a new position in shares of Barnes Group during the fourth quarter valued at $1,558,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related stocks with our FREE daily email newsletter.