Barnes Group Price Target Increased to $39.00 by Analysts at KeyCorp (B)
Equities researchers at KeyCorp hoisted their target price on shares of Barnes Group (NYSE:B) from $36.00 to $39.00 in a research report issued on Tuesday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. KeyCorp’s target price points to a potential upside of 7.59% from the stock’s previous close.
Shares of Barnes Group (NYSE:B) traded down 0.71% on Tuesday, hitting $36.25. The stock had a trading volume of 306,086 shares. Barnes Group has a one year low of $19.71 and a one year high of $36.59. The stock has a 50-day moving average of $33.96 and a 200-day moving average of $31.18. The company has a market cap of $1.901 billion and a price-to-earnings ratio of 7.42.
Barnes Group (NYSE:B) last released its earnings data on Friday, July 26th. The company reported $0.47 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sidoti downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. Analysts at Deutsche Bank initiated coverage on shares of Barnes Group in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $41.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Barnes Group presently has a consensus rating of “Buy” and a consensus target price of $34.44.
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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