Barnes Group, Inc. (NYSE:B) had its target price raised by investment analysts at Deutsche Bank AG from $65.00 to $70.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank AG’s price target points to a potential upside of 7.78% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Monday, May 22nd. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of Barnes Group in a research report on Thursday, June 8th. Oppenheimer Holdings Inc. raised their target price on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, BidaskClub downgraded shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Barnes Group currently has an average rating of “Buy” and a consensus price target of $62.60.

Barnes Group (B) traded up 2.66% during midday trading on Friday, hitting $64.95. 547,927 shares of the company traded hands. The firm has a market capitalization of $3.50 billion, a PE ratio of 22.71 and a beta of 1.43. Barnes Group has a 12-month low of $37.88 and a 12-month high of $65.20. The stock’s 50-day moving average is $60.55 and its 200-day moving average is $55.93.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The company had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. Analysts anticipate that Barnes Group will post $2.89 EPS for the current fiscal year.

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In other Barnes Group news, Director Thomas O. Barnes sold 755 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total value of $46,221.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marian Acker sold 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total transaction of $362,280.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,755 shares of company stock valued at $528,361. Corporate insiders own 8.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. lifted its stake in shares of Barnes Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,638 shares of the industrial products company’s stock worth $564,000 after buying an additional 25 shares during the last quarter. Miles Capital Inc. lifted its stake in shares of Barnes Group by 1.7% during the 1st 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 last quarter. Bank of Montreal Can lifted its stake in shares of Barnes Group by 1.0% during the 2nd 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 last quarter. LS Investment Advisors LLC lifted its stake in shares of Barnes Group by 4.6% during the 2nd 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 last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Barnes Group by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 19,427 shares of the industrial products company’s stock worth $1,137,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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