Barnes Group (B) Given a $66.00 Price Target at DA Davidson

DA Davidson set a $66.00 price objective on Barnes Group (NYSE:B) in a report published on Monday. The brokerage currently has a hold rating on the industrial products company’s stock. DA Davidson also issued estimates for Barnes Group’s Q1 2019 earnings at $0.81 EPS, Q2 2019 earnings at $0.93 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.87 EPS, FY2019 earnings at $3.50 EPS, Q1 2020 earnings at $0.88 EPS, Q2 2020 earnings at $1.00 EPS, Q3 2020 earnings at $0.95 EPS and FY2020 earnings at $3.78 EPS.

B has been the subject of a number of other research reports. Zacks Investment Research raised shares of Barnes Group from a sell rating to a hold rating in a report on Tuesday, November 6th. Oppenheimer lifted their target price on shares of Barnes Group from $75.00 to $82.00 and gave the stock an outperform rating in a report on Tuesday, September 25th. SunTrust Banks reaffirmed a hold rating and set a $63.00 target price on shares of Barnes Group in a report on Friday, July 27th. Robert W. Baird lifted their price target on shares of Barnes Group from $58.00 to $68.00 and gave the stock a neutral rating in a research report on Friday, July 27th. Finally, UBS Group began coverage on shares of Barnes Group in a research report on Wednesday, August 15th. They set a buy rating and a $80.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $71.83.

B opened at $58.52 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.27 and a quick ratio of 1.50. Barnes Group has a 52 week low of $52.42 and a 52 week high of $72.70. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.52.

Barnes Group (NYSE:B) last released its earnings results on Friday, October 26th. The industrial products company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The business had revenue of $369.80 million for the quarter, compared to analyst estimates of $379.27 million. During the same period in the prior year, the firm posted $0.66 EPS. Barnes Group’s revenue was up 3.5% on a year-over-year basis. Equities analysts expect that Barnes Group will post 3.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 27th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.09%. Barnes Group’s dividend payout ratio is 22.22%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signet Financial Management LLC lifted its position in Barnes Group by 0.9% in the 2nd quarter. Signet Financial Management LLC now owns 92,069 shares of the industrial products company’s stock valued at $5,423,000 after acquiring an additional 816 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in Barnes Group by 7.8% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,288 shares of the industrial products company’s stock valued at $665,000 after acquiring an additional 820 shares in the last quarter. US Bancorp DE lifted its position in Barnes Group by 1.4% in the 2nd quarter. US Bancorp DE now owns 58,637 shares of the industrial products company’s stock valued at $3,453,000 after acquiring an additional 823 shares in the last quarter. Bank of Montreal Can lifted its position in Barnes Group by 12.1% in the 3rd quarter. Bank of Montreal Can now owns 9,167 shares of the industrial products company’s stock valued at $650,000 after acquiring an additional 993 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Barnes Group by 9.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,244 shares of the industrial products company’s stock valued at $799,000 after acquiring an additional 1,009 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Barnes Group (NYSE:B)

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