Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $74.00 price objective on the industrial products company’s stock.

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. “

Several other research firms have also issued reports on B. ValuEngine lowered Barnes Group from a buy rating to a hold rating in a research report on Monday, October 2nd. SunTrust Banks reaffirmed a hold rating and issued a $60.00 price target on shares of Barnes Group in a research report on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $65.00 price target on shares of Barnes Group in a research report on Sunday, October 29th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $68.17.

Barnes Group (NYSE B) opened at $67.79 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3,634.29, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.17 and a beta of 1.36. Barnes Group has a 52-week low of $45.47 and a 52-week high of $72.87.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $357.16 million during the quarter, compared to analysts’ expectations of $351.01 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. Barnes Group’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. equities research analysts forecast that Barnes Group will post 2.85 EPS for the current fiscal year.

In other Barnes Group news, SVP Christopher J. Stephens sold 15,700 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total value of $997,421.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas O. Barnes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of B. Schwab Charles Investment Management Inc. grew its stake in shares of Barnes Group by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 299,075 shares of the industrial products company’s stock valued at $17,505,000 after purchasing an additional 1,514 shares during the period. Prudential Financial Inc. grew its stake in shares of Barnes Group by 9.8% during the 2nd quarter. Prudential Financial Inc. now owns 110,963 shares of the industrial products company’s stock valued at $6,495,000 after purchasing an additional 9,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barnes Group by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 188 shares during the period. Pacad Investment Ltd. grew its stake in shares of Barnes Group by 5.9% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 100 shares during the period. Finally, Swiss National Bank grew its stake in shares of Barnes Group by 1.8% during the 2nd quarter. Swiss National Bank now owns 85,600 shares of the industrial products company’s stock valued at $5,010,000 after purchasing an additional 1,500 shares during the period. 86.29% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Barnes Group (B) Stock Rating Upgraded by Zacks Investment Research” was posted by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.watchlistnews.com/barnes-group-b-stock-rating-upgraded-by-zacks-investment-research/1806686.html.

Barnes Group Company Profile

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

Get a free copy of the Zacks research report on Barnes Group (B)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Barnes Group (NYSE:B)

Receive News & Ratings for Barnes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group and related companies with Analyst Ratings Network's FREE daily email newsletter.