Oppenheimer Boosts Barnes Group (NYSE:B) Price Target to $48.00

Barnes Group (NYSE:B) had its price target hoisted by Oppenheimer from $43.00 to $48.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 23.43% from the company’s current price.

B has been the topic of a number of other reports. DA Davidson lifted their price target on shares of Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th.

Barnes Group Price Performance

B opened at $38.89 on Friday. The company has a fifty day moving average price of $37.61 and a two-hundred day moving average price of $34.77. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. Barnes Group has a 52 week low of $18.79 and a 52 week high of $43.65. The firm has a market capitalization of $1.97 billion, a PE ratio of 432.11, a P/E/G ratio of 2.30 and a beta of 1.40.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $430.64 million for the quarter, compared to analysts’ expectations of $425.32 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. As a group, analysts anticipate that Barnes Group will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Barnes Group

Several institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Barnes Group by 418.3% during the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after buying an additional 983 shares in the last quarter. GAMMA Investing LLC bought a new stake in Barnes Group during the 4th quarter worth about $58,000. CWM LLC lifted its position in Barnes Group by 470.7% during the 4th quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock worth $69,000 after buying an additional 1,732 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Barnes Group during the 1st quarter worth about $107,000. Finally, TFO Wealth Partners LLC lifted its position in Barnes Group by 57,362.5% during the 4th quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock worth $150,000 after buying an additional 4,589 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.