Deutsche Bank Initiates Coverage on Barnes Group (B)
Stock analysts at Deutsche Bank initiated coverage on shares of Barnes Group (NYSE:B) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
A number of other analysts have also recently weighed in on B. Analysts at Drexel Hamilton initiated coverage on shares of Barnes Group (NYSE:B) in a research note to investors on Tuesday, July 9th. They set a “buy” rating on the stock. Analysts at Zacks upgraded shares of Barnes Group (NYSE:B) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, June 24th. They now have a $30.20 price target on the stock.
Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.30.
Barnes Group (NYSE:B) opened at 32.49 on Thursday. Barnes Group has a one year low of $19.71 and a one year high of $33.87. The stock has a 50-day moving average of $32.45 and a 200-day moving average of $30.01. The company has a market cap of $1.703 billion and a price-to-earnings ratio of 6.61.
Barnes Group (NYSE:B) last announced its earnings results on Friday, July 26th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $267.40 million for the quarter, compared to the consensus estimate of $268.53 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. Analysts expect that Barnes Group will post $1.91 EPS for the current fiscal year.
Barnes Group Inc (NYSE:B) is an international aerospace and industrial manufacturer and service provider, serving a range of end markets and customers.
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