Barnes Group (NYSE:B) Price Target Cut to $64.00

Barnes Group (NYSE:B) had its price objective reduced by Morgan Stanley from $66.00 to $64.00 in a research report report published on Thursday, Stock Target Advisor reports. Morgan Stanley currently has an underweight rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on the stock. DA Davidson raised their price target on shares of Barnes Group from $36.00 to $45.00 and gave the stock a neutral rating in a research note on Monday, February 22nd. Zacks Investment Research upgraded shares of Barnes Group from a sell rating to a hold rating and set a $53.00 price target for the company in a research note on Tuesday, April 27th. Finally, TheStreet cut shares of Barnes Group from a b- rating to a c+ rating in a research note on Friday, April 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Barnes Group currently has a consensus rating of Hold and a consensus price target of $44.00.

B stock opened at $54.45 on Thursday. Barnes Group has a twelve month low of $33.59 and a twelve month high of $57.64. The firm has a market capitalization of $2.76 billion, a P/E ratio of 52.36, a PEG ratio of 2.90 and a beta of 1.27. The business’s 50-day moving average price is $51.65. The company has a current ratio of 2.18, a quick ratio of 1.39 and a debt-to-equity ratio of 0.49.

Barnes Group (NYSE:B) last released its earnings results on Thursday, April 29th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $301.60 million for the quarter, compared to the consensus estimate of $275.70 million. Barnes Group had a return on equity of 5.04% and a net margin of 4.84%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Research analysts predict that Barnes Group will post 1.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Thursday, May 27th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, May 26th. Barnes Group’s dividend payout ratio (DPR) is currently 39.02%.

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Barnes Group in the 4th quarter worth approximately $36,277,000. Cramer Rosenthal Mcglynn LLC raised its position in Barnes Group by 8,673.6% in the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 542,033 shares of the industrial products company’s stock worth $26,852,000 after purchasing an additional 535,855 shares during the last quarter. BlackRock Inc. raised its position in Barnes Group by 6.6% in the 4th quarter. BlackRock Inc. now owns 7,210,512 shares of the industrial products company’s stock worth $365,501,000 after purchasing an additional 446,909 shares during the last quarter. JPMorgan Chase & Co. raised its position in Barnes Group by 123.2% in the 4th quarter. JPMorgan Chase & Co. now owns 342,358 shares of the industrial products company’s stock worth $17,354,000 after purchasing an additional 188,973 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its position in Barnes Group by 28.7% in the 4th quarter. Aristotle Capital Boston LLC now owns 631,330 shares of the industrial products company’s stock worth $32,002,000 after purchasing an additional 140,782 shares during the last quarter. Institutional investors own 85.04% of the company’s stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by 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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