Barnes Group Lowered to Neutral at Sidoti (B)
Barnes Group (NYSE:B) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of Barnes Group (NYSE:B) in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $41.00 price target on the stock. 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.24.
Barnes Group (NYSE:B) traded down 1.03% during mid-day trading on Friday, hitting $34.57. 74,511 shares of the company’s stock traded hands. Barnes Group has a 1-year low of $19.71 and a 1-year high of $35.71. The stock’s 50-day moving average is $32.92 and its 200-day moving average is $30.58. The company has a market cap of $1.812 billion and a price-to-earnings ratio of 7.10.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.47 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.45 earnings per share. Barnes Group’s revenue was up 24.2% compared to the same quarter last year. Analysts expect that Barnes Group will post $1.92 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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