Barnes Group (NYSE:B) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Barnes Group (NYSE:B) from a hold rating to a sell rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other equities research analysts have also recently weighed in on B. UBS Group dropped their price target on shares of Barnes Group from $60.00 to $56.00 and set a neutral rating for the company in a research report on Tuesday, July 30th. Zacks Investment Research cut shares of Barnes Group from a hold rating to a sell rating and set a $55.00 price target for the company. in a research report on Thursday, August 1st. Alembic Global Advisors started coverage on shares of Barnes Group in a research report on Friday, May 17th. They set an overweight rating and a $67.00 price target for the company. Finally, SunTrust Banks cut shares of Barnes Group from a hold rating to a sell rating and dropped their price target for the company from $53.00 to $48.00 in a research report on Friday, June 14th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $60.67.

Shares of B stock traded down $1.02 on Friday, hitting $45.29. 227,667 shares of the company’s stock traded hands, compared to its average volume of 204,302. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 0.73. Barnes Group has a one year low of $44.83 and a one year high of $72.70. The firm’s fifty day moving average is $52.90. The stock has a market cap of $2.34 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.11 and a beta of 1.40.

Barnes Group (NYSE:B) last released its earnings results on Friday, July 26th. The industrial products company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The business had revenue of $371.70 million for the quarter, compared to the consensus estimate of $387.29 million. During the same period in the prior year, the business posted $0.90 EPS. Barnes Group’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Barnes Group will post 3.14 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 1.41%. Barnes Group’s dividend payout ratio is 19.88%.

In related news, Director Mylle H. Mangum sold 1,000 shares of Barnes Group stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total transaction of $51,890.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas O. Barnes sold 2,000 shares of Barnes Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $55.48, for a total transaction of $110,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $861,100. Corporate insiders own 8.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of B. Investors Research Corp purchased a new position in Barnes Group during the 1st quarter valued at about $36,000. Meeder Asset Management Inc. bought a new stake in Barnes Group during the 1st quarter valued at about $36,000. AdvisorNet Financial Inc increased its stake in Barnes Group by 37.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,860 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 507 shares in the last quarter. Pearl River Capital LLC increased its stake in Barnes Group by 767.3% during the 1st quarter. Pearl River Capital LLC now owns 2,602 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 2,302 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Barnes Group during the 2nd quarter valued at about $134,000. 86.47% of the stock is 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, automation, personal care, packaging, electronics, and medical devices.

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Analyst Recommendations for Barnes Group (NYSE:B)

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