Barnes Group, Inc. (NYSE:B)‘s stock had its “hold” rating restated by SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They currently have a $60.00 price target on the industrial products company’s stock. SunTrust Banks, Inc.’s price target would suggest a potential downside of 16.13% from the stock’s current price.

A number of other research analysts have also recently weighed in on B. ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. lifted their target price on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG lifted their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.75.

Shares of Barnes Group (B) opened at 71.54 on Thursday. The firm’s 50 day moving average price is $66.99 and its 200 day moving average price is $59.34. The stock has a market cap of $3.85 billion, a P/E ratio of 25.01 and a beta of 1.45. Barnes Group has a 52-week low of $37.95 and a 52-week high of $73.84.

Barnes Group (NYSE:B) last released its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The company had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same quarter in the previous year, the company earned $0.63 EPS. Barnes Group’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts expect that Barnes Group will post $2.90 EPS for the current year.

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In other Barnes Group news, Director Thomas O. Barnes sold 755 shares of Barnes Group stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total value of $46,221.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction on Wednesday, August 2nd. The shares were 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 worth $528,361. 8.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in B. UBS Asset Management Americas Inc. increased its holdings in Barnes Group by 40.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 30,227 shares of the industrial products company’s stock valued at $1,552,000 after acquiring an additional 8,778 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Barnes Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 11,705 shares of the industrial products company’s stock worth $601,000 after buying an additional 769 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Barnes Group by 1.6% in the 1st quarter. Arizona State Retirement System now owns 26,126 shares of the industrial products company’s stock worth $1,341,000 after buying an additional 400 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Barnes Group by 21.9% in the 1st quarter. OppenheimerFunds Inc. now owns 18,810 shares of the industrial products company’s stock worth $965,000 after buying an additional 3,380 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Barnes Group by 1.9% in the 1st quarter. Legal & General Group Plc now owns 88,252 shares of the industrial products company’s stock worth $4,529,000 after buying an additional 1,673 shares during the last quarter. Institutional investors own 85.08% of the company’s stock.

About Barnes Group

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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