Barnes Group, Inc. (NYSE:B) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Several other research firms also recently commented on B. Oppenheimer Holdings, Inc. boosted their target price on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price on shares of Barnes Group in a report on Thursday, June 8th. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Finally, ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. 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 stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.20.

Barnes Group (B) opened at 60.33 on Thursday. Barnes Group has a 1-year low of $37.88 and a 1-year high of $62.37. The company’s 50-day moving average is $60.01 and its 200 day moving average is $54.98. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 21.09 and a beta of 1.43.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The firm had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. During the same period last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Barnes Group will post $2.89 EPS for the current fiscal year.

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In other Barnes Group news, Director Thomas O. Barnes sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marian Acker sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was 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. In the last quarter, insiders have sold 10,000 shares of company stock valued at $594,140. 8.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. bought a new stake in shares of Barnes Group during the second quarter worth approximately $35,388,000. Koch Industries Inc. bought a new stake in shares of Barnes Group during the second quarter worth approximately $350,000. Piedmont Investment Advisors LLC bought a new stake in shares of Barnes Group during the second quarter worth approximately $632,000. State Street Corp boosted its stake in shares of Barnes Group by 3.8% in the second quarter. State Street Corp now owns 1,288,147 shares of the industrial products company’s stock worth $75,394,000 after buying an additional 47,590 shares during the last quarter. Finally, Signet Financial Management LLC boosted its stake in shares of Barnes Group by 0.5% in the second quarter. Signet Financial Management LLC now owns 89,520 shares of the industrial products company’s stock worth $5,239,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 83.53% 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.

Analyst Recommendations for Barnes Group (NYSE:B)

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