Barnes Group Inc. (NYSE:B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $61.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.56% from the stock’s current price.

According to Zacks, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. “

Several other equities analysts have also recently weighed in on B. Sidoti cut Barnes Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 price target on shares of Barnes Group in a research report on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Barnes Group presently has a consensus rating of “Buy” and an average price target of $55.25.

Barnes Group (NYSE:B) traded up 0.37% during mid-day trading on Monday, hitting $54.68. The stock had a trading volume of 198,606 shares. The firm’s 50-day moving average is $53.02 and its 200 day moving average is $49.21. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 20.63 and a beta of 1.45. Barnes Group has a 12 month low of $31.13 and a 12 month high of $56.51.

Barnes Group (NYSE:B) last released its earnings results on Friday, April 28th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. Barnes Group had a return on equity of 12.10% and a net margin of 10.33%. The business had revenue of $341.80 million during the quarter, compared to the consensus estimate of $314.81 million. During the same period last year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts anticipate that Barnes Group will post $2.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 25th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This is a boost from Barnes Group’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.02%. Barnes Group’s payout ratio is 23.11%.

COPYRIGHT VIOLATION NOTICE: “Barnes Group Inc. (B) Rating Increased to Buy at Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/05/22/barnes-group-inc-b-rating-increased-to-buy-at-zacks-investment-research-2.html.

In related news, Director Thomas O. Barnes sold 12,577 shares of Barnes Group stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $50.14, for a total transaction of $630,610.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mylle H. Mangum sold 3,000 shares of Barnes Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.91, for a total value of $161,730.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,562 shares of company stock valued at $2,651,572. 7.80% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Barnes Group by 40,783.4% in the first quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock valued at $311,610,000 after buying an additional 6,054,701 shares in the last quarter. Norges Bank acquired a new stake in Barnes Group during the fourth quarter valued at about $31,966,000. Vanguard Group Inc. raised its stake in Barnes Group by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock valued at $232,698,000 after buying an additional 235,065 shares in the last quarter. Stifel Financial Corp acquired a new stake in Barnes Group during the first quarter valued at about $9,198,000. Finally, Columbia Wanger Asset Management LLC acquired a new stake in Barnes Group during the first quarter valued at about $8,322,000. 83.27% of the stock is owned by institutional investors.

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.

12 Month Chart for NYSE:B

Get a free copy of the Zacks research report on Barnes Group (B)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.