Barnes Group (B) Rating Increased to Hold at Zacks Investment Research

Barnes Group (NYSE:B) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

A number of other equities research analysts have also commented on the company. ValuEngine lowered Barnes Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Robert W. Baird raised their price objective on Barnes Group from $58.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Oppenheimer raised their price objective on Barnes Group from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 25th. SunTrust Banks decreased their price objective on Barnes Group from $63.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Finally, DA Davidson set a $67.00 price objective on Barnes Group and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Barnes Group currently has an average rating of “Hold” and a consensus target price of $72.00.

Shares of B opened at $59.67 on Tuesday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.59 and a beta of 1.52. Barnes Group has a 1-year low of $52.42 and a 1-year high of $72.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 2.27.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The company had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $379.27 million. During the same period in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast that Barnes Group will post 3.23 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Barnes Group by 6.3% during the 2nd quarter. BlackRock Inc. now owns 6,826,299 shares of the industrial products company’s stock valued at $402,068,000 after buying an additional 406,101 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Barnes Group by 24.4% during the 3rd quarter. Wasatch Advisors Inc. now owns 3,153,172 shares of the industrial products company’s stock valued at $223,970,000 after buying an additional 618,888 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Barnes Group by 4.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,865,556 shares of the industrial products company’s stock valued at $109,881,000 after buying an additional 83,240 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of Barnes Group by 1.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,326,588 shares of the industrial products company’s stock valued at $94,228,000 after buying an additional 16,915 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Barnes Group by 4.9% during the 2nd quarter. Janus Henderson Group PLC now owns 553,802 shares of the industrial products company’s stock valued at $32,619,000 after buying an additional 26,044 shares during the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.

Barnes Group Company Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.

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