Barnes Group, Inc. (B) Upgraded to Strong-Buy by BidaskClub
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.
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.
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