Barnes Group, Inc. (B) Rating Reiterated by SunTrust Banks, Inc.
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.
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