Equities research analysts forecast that Barnes Group Inc. (NYSE:B) will report sales of $361.27 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Barnes Group’s earnings, with estimates ranging from $357.90 million to $365.00 million. Barnes Group reported sales of $324.17 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, February 16th.
According to Zacks, analysts expect that Barnes Group will report full year sales of $361.27 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.43 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.50 billion per share, with estimates ranging from $1.49 billion to $1.53 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Barnes Group.
A number of equities analysts recently issued reports on B shares. Zacks Investment Research lowered Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. SunTrust Banks restated a “hold” rating and issued a $60.00 target price on shares of Barnes Group in a research note on Thursday, October 12th. Robert W. Baird restated a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a research note on Sunday, October 29th. Finally, ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC grew its position in shares of 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 valued at $109,000 after acquiring an additional 1,517 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Barnes Group during the 2nd quarter valued at about $137,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Barnes Group by 156.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 1,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Barnes Group by 47.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 1,003 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Barnes Group by 2,284.0% during the 4th quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 2,992 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
Barnes Group (B) opened at $61.30 on Tuesday. The stock has a market capitalization of $3,445.55, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. Barnes Group has a 52 week low of $46.74 and a 52 week high of $72.87.
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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