Barnes Group, Inc. (B) Rating Lowered to Hold at ValuEngine
Barnes Group, Inc. (NYSE:B) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG raised their target price on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 8th. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. upped their price target on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price target on shares of Barnes Group in a research note on Thursday, June 8th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $62.60.
Shares of Barnes Group (NYSE B) traded up 1.97% during mid-day trading on Monday, hitting $71.83. The company had a trading volume of 184,287 shares. The firm’s 50-day moving average price is $64.18 and its 200 day moving average price is $58.10. The company has a market capitalization of $3.87 billion, a P/E ratio of 25.12 and a beta of 1.44. Barnes Group has a one year low of $37.88 and a one year high of $73.84.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts predict that Barnes Group will post $2.90 earnings per share for the current fiscal year.
In related news, Director Thomas O. Barnes sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.93, for a total transaction of $119,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marian Acker sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,755 shares of company stock valued at $528,361. 8.50% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in Barnes Group by 7.0% in the 2nd quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock valued at $6,546,000 after buying an additional 7,269 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Barnes Group during the 1st quarter worth approximately $445,000. BNP Paribas Arbitrage SA boosted its position in shares of Barnes Group by 1.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,794 shares of the industrial products company’s stock worth $606,000 after acquiring an additional 171 shares in the last quarter. Invictus RG acquired a new stake in shares of Barnes Group during the 1st quarter worth approximately $354,000. Finally, First National Bank of Omaha boosted its position in shares of Barnes Group by 1.0% during the 2nd quarter. First National Bank of Omaha now owns 26,153 shares of the industrial products company’s stock worth $1,531,000 after acquiring an additional 250 shares in the last quarter. 85.08% of the stock is currently owned by hedge funds and other institutional investors.
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.
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