Barnes Group Inc. (B) Receives Average Recommendation of “Buy” from Brokerages
Shares of Barnes Group Inc. (NYSE:B) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $68.17.
A number of brokerages have issued reports on B. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, January 10th. SunTrust Banks reaffirmed a “hold” rating and issued a $67.00 target price on shares of Barnes Group in a research report on Tuesday, January 9th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a research report on Sunday, October 29th.
Barnes Group (NYSE B) opened at $67.79 on Tuesday. The firm has a market capitalization of $3,634.26, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.36. Barnes Group has a fifty-two week low of $45.47 and a fifty-two week high of $72.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45.
In related news, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total transaction of $99,540.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC grew its stake in Barnes Group by 4,461.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,517 shares during the last quarter. Pacad Investment Ltd. grew its stake in Barnes Group by 5.9% during the 2nd 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 during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Barnes Group during the 2nd quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Barnes Group by 9.9% during the 2nd 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 during the last quarter. Finally, Acrospire Investment Management LLC grew its stake in Barnes Group by 16.0% during the 2nd 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 during the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.
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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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