Barnes Group, Inc. (B) Receives Average Recommendation of “Buy” from Analysts
Barnes Group, Inc. (NYSE:B) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $58.20.
B has been the topic of several recent research reports. Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price target on shares of Barnes Group in a research note on Tuesday, May 2nd. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, May 3rd. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th.
In related news, Director Hassell H. Mcclellan sold 2,000 shares of Barnes Group stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $56.00, for a total value of $112,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas O. Barnes sold 1,000 shares of Barnes Group stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $650,200 in the last three months. Company insiders own 8.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. increased its stake in Barnes Group by 5.9% in the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Barnes Group during the second quarter worth about $109,000. LS Investment Advisors LLC increased its stake in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Barnes Group by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after buying an additional 188 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in Barnes Group by 16.0% in the second quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock worth $127,000 after buying an additional 300 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group (NYSE:B) opened at 59.97 on Friday. The company’s 50-day moving average price is $59.90 and its 200 day moving average price is $54.66. Barnes Group has a 52-week low of $37.88 and a 52-week high of $62.37. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.97 and a beta of 1.43.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The business had revenue of $364.49 million for the quarter, compared to the consensus estimate of $337.69 million. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities analysts predict that Barnes Group will post $2.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, August 22nd. Barnes Group’s dividend payout ratio is 19.58%.
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.
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