Barnes Group (B) Rating Reiterated by SunTrust Banks

Barnes Group (NYSE:B)‘s stock had its “hold” rating reissued by research analysts at SunTrust Banks in a research report issued on Tuesday. They presently have a $67.00 price target on the industrial products company’s stock. SunTrust Banks’ price target would suggest a potential upside of 2.18% from the company’s previous close. SunTrust Banks also issued estimates for Barnes Group’s FY2018 earnings at $3.30 EPS and FY2019 earnings at $3.71 EPS.

B has been the subject of several other research reports. Zacks Investment Research cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Robert W. Baird reissued a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Finally, ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Barnes Group currently has an average rating of “Buy” and an average target price of $68.17.

Shares of Barnes Group (NYSE:B) opened at $65.57 on Tuesday. Barnes Group has a 52-week low of $45.47 and a 52-week high of $72.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. The firm has a market cap of $3,540.00, a PE ratio of 23.09, a P/E/G ratio of 2.14 and a beta of 1.35.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm had revenue of $357.16 million for the quarter, compared to the consensus estimate of $351.01 million. During the same period in the prior year, the company earned $0.71 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. analysts expect that Barnes Group will post 2.85 EPS for the current fiscal year.

In other news, Director Thomas O. Barnes sold 1,500 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $66.36, for a total value of $99,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total transaction of $997,421.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC raised its holdings in Barnes Group by 4,461.8% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock valued at $109,000 after buying an additional 1,517 shares during the last quarter. Pacad Investment Ltd. raised its holdings in Barnes Group by 5.9% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Barnes Group in the 2nd quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Barnes Group by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after buying an additional 188 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its holdings in Barnes Group by 16.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock valued at $127,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

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About Barnes Group

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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