Barnes Group (NYSE:B) Price Target Raised to $68.00

Barnes Group (NYSE:B) had its price objective raised by Citigroup from $67.00 to $68.00 in a research note issued to investors on Monday, Stock Target Advisor reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms also recently issued reports on B. UBS Group upped their price objective on shares of Barnes Group from $60.00 to $64.00 and gave the company a neutral rating in a report on Friday, December 6th. ValuEngine upgraded shares of Barnes Group from a sell rating to a hold rating in a report on Saturday, September 14th. Oppenheimer set a $65.00 price objective on shares of Barnes Group and gave the company a buy rating in a report on Friday, October 25th. Finally, SunTrust Banks upped their price objective on shares of Barnes Group from $55.00 to $60.00 and gave the company a hold rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $61.88.

B opened at $62.53 on Monday. Barnes Group has a 52-week low of $42.39 and a 52-week high of $63.14. The company has a quick ratio of 1.49, a current ratio of 2.23 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.08 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.91 and a beta of 1.42. The firm’s 50-day moving average price is $59.64 and its 200-day moving average price is $53.29.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 25th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Barnes Group had a net margin of 10.38% and a return on equity of 13.61%. The firm had revenue of $372.60 million for the quarter, compared to the consensus estimate of $377.42 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts anticipate that Barnes Group will post 3.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, November 25th. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Barnes Group’s dividend payout ratio (DPR) is currently 19.88%.

In related news, VP Marian Acker sold 5,018 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $53.88, for a total value of $270,369.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick Dempsey sold 57,389 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $61.28, for a total transaction of $3,516,797.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,256 shares of company stock worth $6,863,018. 8.35% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Doyle Wealth Management purchased a new stake in Barnes Group in the 2nd quarter worth approximately $28,000. Parallel Advisors LLC boosted its position in Barnes Group by 226.2% in the 3rd quarter. Parallel Advisors LLC now owns 672 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 466 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in Barnes Group in the 3rd quarter worth approximately $51,000. LS Investment Advisors LLC boosted its position in Barnes Group by 41.0% in the 3rd quarter. LS Investment Advisors LLC now owns 1,990 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 579 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Barnes Group by 15.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 86.72% 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, automation, personal care, packaging, electronics, and medical devices.

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Analyst Recommendations for Barnes Group (NYSE:B)

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