Brokerages Set Barnes Group Inc. (NYSE:B) Target Price at $60.67

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Barnes Group Inc. (NYSE:B) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $60.67.

Several equities analysts have recently issued reports on B shares. Alembic Global Advisors started coverage on Barnes Group in a research note on Friday, May 17th. They set an “overweight” rating and a $67.00 price target on the stock. ValuEngine lowered Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. UBS Group cut their price target on Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Zacks Investment Research lowered Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price target on the stock. in a research note on Thursday, August 1st. Finally, SunTrust Banks lowered Barnes Group from a “hold” rating to a “sell” rating and cut their price target for the company from $53.00 to $48.00 in a research note on Friday, June 14th.

In other Barnes Group news, VP Marian Acker sold 2,274 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. Insiders have sold 3,739 shares of company stock worth $175,263 in the last ninety days. 8.35% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Doyle Wealth Management bought a new position in shares of Barnes Group during the second quarter worth about $28,000. AdvisorNet Financial Inc boosted its position in Barnes Group by 37.5% during the second quarter. AdvisorNet Financial Inc now owns 1,860 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 507 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Barnes Group during the second quarter valued at approximately $134,000. NumerixS Investment Technologies Inc acquired a new position in Barnes Group during the first quarter valued at approximately $176,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Barnes Group during the second quarter valued at approximately $212,000. 85.86% of the stock is currently owned by hedge funds and other institutional investors.

Barnes Group stock traded up $2.42 on Friday, reaching $55.19. The company’s stock had a trading volume of 451,200 shares, compared to its average volume of 206,388. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.43 and a current ratio of 2.13. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.30 and a beta of 1.46. The business’s fifty day moving average price is $46.75 and its 200 day moving average price is $52.67. Barnes Group has a twelve month low of $42.39 and a twelve month high of $72.70.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The business had revenue of $371.70 million during the quarter, compared to analyst estimates of $387.29 million. During the same period in the prior year, the firm posted $0.90 EPS. Barnes Group’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Barnes Group will post 3.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, August 23rd. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.

Barnes Group Company Profile

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.

See Also: Recession

Analyst Recommendations for Barnes Group (NYSE:B)

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