Barnes Group (NYSE:B) was downgraded by research analysts at SunTrust Banks from a “hold” rating to a “sell” rating in a research report issued on Friday, The Fly reports.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. UBS Group cut shares of Barnes Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $65.00 in a report on Friday, February 15th. DA Davidson lowered their price target on shares of Barnes Group to $56.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Alembic Global Advisors initiated coverage on shares of Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $64.86.
Shares of Barnes Group stock opened at $56.23 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Barnes Group has a 1 year low of $49.06 and a 1 year high of $72.70. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.45.
Barnes Group (NYSE:B) last issued its earnings results on Friday, April 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The company had revenue of $376.69 million for the quarter, compared to analysts’ expectations of $374.04 million. During the same period in the prior year, the business earned $0.72 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Barnes Group will post 3.23 earnings per share for the current fiscal year.
In related news, Director Thomas O. Barnes sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $55.48, for a total value of $110,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary G. Benanav sold 12,500 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $55.86, for a total transaction of $698,250.00. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $906,230 over the last 90 days. Company insiders own 8.35% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Barnes Group by 3.7% during the 4th quarter. Bank of Montreal Can now owns 9,510 shares of the industrial products company’s stock worth $509,000 after buying an additional 343 shares during the last quarter. KBC Group NV purchased a new position in Barnes Group during the 4th quarter worth approximately $44,000. Rhumbline Advisers raised its position in Barnes Group by 20.0% during the 4th quarter. Rhumbline Advisers now owns 151,842 shares of the industrial products company’s stock worth $8,142,000 after buying an additional 25,273 shares during the last quarter. SG Americas Securities LLC raised its position in Barnes Group by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 14,542 shares of the industrial products company’s stock worth $780,000 after buying an additional 2,321 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in Barnes Group by 20.6% during the 4th quarter. WINTON GROUP Ltd now owns 4,010 shares of the industrial products company’s stock worth $215,000 after buying an additional 685 shares during the last quarter. 85.35% of the stock is owned by hedge funds and other institutional investors.
About Barnes Group
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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