Barnes Group, Inc. (NYSE:B)‘s stock had its “hold” rating reaffirmed by equities researchers at SunTrust Banks, Inc. in a report issued on Thursday. They currently have a $60.00 price target on the industrial products company’s stock. SunTrust Banks, Inc.’s price target would indicate a potential downside of 16.10% from the company’s current price.

Several other analysts also recently weighed in on the company. ValuEngine downgraded Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub upgraded Barnes Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. boosted their price target on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG boosted their price target on Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.75.

Shares of Barnes Group (B) traded up 1.45% on Thursday, hitting $71.51. The stock had a trading volume of 167,528 shares. The company’s 50 day moving average price is $66.35 and its 200-day moving average price is $59.09. The company has a market cap of $3.85 billion, a P/E ratio of 25.00 and a beta of 1.45. Barnes Group has a 12 month low of $37.88 and a 12 month high of $72.28.

Barnes Group (NYSE:B) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share 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 firm had revenue of $364.49 million for the quarter, compared to the consensus estimate of $337.69 million. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts expect that Barnes Group will post $2.90 earnings per share for the current year.

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In other news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas O. Barnes sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.93, for a total value of $119,860.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,755 shares of company stock valued at $528,361. Insiders own 8.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. lifted its holdings in shares of Barnes Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,638 shares of the industrial products company’s stock valued at $564,000 after buying an additional 25 shares during the period. Bank of Montreal Can lifted its holdings in shares of Barnes Group by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock valued at $480,000 after buying an additional 81 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Barnes Group by 4.6% in the 2nd quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares during the period. Jennison Associates LLC lifted its holdings in shares of Barnes Group by 0.5% in the 2nd quarter. Jennison Associates LLC now owns 19,427 shares of the industrial products company’s stock valued at $1,137,000 after buying an additional 89 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Barnes Group by 1.3% in the 2nd quarter. Amalgamated Bank now owns 6,893 shares of the industrial products company’s stock valued at $403,000 after buying an additional 89 shares during the period. 85.08% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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