Barnes Group, Inc. (B) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Barnes Group, Inc. (NYSE:B) have received an average rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $56.00.
A number of research analysts have issued reports on B shares. Zacks Investment Research cut shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, May 19th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC increased their price target on shares of Barnes Group from $46.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Finally, Sidoti lowered shares of Barnes Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 24th.
COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/25/barnes-group-inc-b-given-consensus-recommendation-of-buy-by-brokerages-4.html.
Shares of Barnes Group (NYSE B) opened at 60.25 on Tuesday. The firm has a market capitalization of $3.24 billion, a PE ratio of 22.74 and a beta of 1.43. Barnes Group has a 52-week low of $36.19 and a 52-week high of $62.23. The stock’s 50 day moving average price is $59.16 and its 200-day moving average price is $53.07.
Barnes Group (NYSE:B) last issued its earnings results on Friday, April 28th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.11. Barnes Group had a net margin of 11.30% and a return on equity of 12.49%. The company had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that Barnes Group will post $2.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.93%. Barnes Group’s dividend payout ratio (DPR) is currently 21.13%.
In related news, Director Hassell H. Mcclellan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mylle H. Mangum sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $53.91, for a total transaction of $161,730.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,250 shares of company stock worth $1,552,653. 8.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in B. Miles Capital Inc. raised its position in shares of Barnes Group by 1.7% in the first quarter. Miles Capital Inc. now owns 4,389 shares of the industrial products company’s stock worth $225,000 after buying an additional 74 shares during the period. Bank of Montreal Can raised its position in shares of Barnes Group by 1.0% in the second quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock worth $480,000 after buying an additional 81 shares during the period. LS Investment Advisors LLC raised its position in shares of Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after buying an additional 85 shares during the period. Jennison Associates LLC raised its position in shares of Barnes Group by 0.5% in the first quarter. Jennison Associates LLC now owns 19,338 shares of the industrial products company’s stock worth $993,000 after buying an additional 99 shares during the period. Finally, Ironwood Investment Management LLC raised its position in shares of Barnes Group by 0.4% in the first quarter. Ironwood Investment Management LLC now owns 35,230 shares of the industrial products company’s stock worth $1,809,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Barnes Group Company Profile
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.
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.