Barnes Group (B) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other research analysts have also recently weighed in on the stock. SunTrust Banks reiterated a hold rating and set a $60.00 price target on shares of Barnes Group in a research note on Thursday, October 12th. Deutsche Bank lifted their price target on shares of Barnes Group from $65.00 to $70.00 and gave the stock a buy rating in a research note on Friday, September 8th. Robert W. Baird reiterated a hold rating and set a $65.00 price target on shares of Barnes Group in a research note on Sunday, October 29th. Finally, Zacks Investment Research cut shares of Barnes Group from a buy rating to a hold rating in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Barnes Group has a consensus rating of Buy and a consensus target price of $65.60.

Shares of Barnes Group (NYSE B) opened at $63.27 on Friday. Barnes Group has a fifty-two week low of $45.47 and a fifty-two week high of $72.87. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. The company has a market cap of $3,391.94, a P/E ratio of 22.28, a PEG ratio of 2.22 and a beta of 1.36.

Barnes Group (NYSE:B) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) 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 company had revenue of $357.16 million during the quarter, compared to analysts’ expectations of $351.01 million. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. sell-side analysts forecast that Barnes Group will post 2.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. Barnes Group’s payout ratio is 19.72%.

In other Barnes Group news, Director Thomas O. Barnes sold 1,500 shares of Barnes Group stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total value of $99,540.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Christopher J. Stephens sold 15,700 shares of Barnes Group stock in a transaction on Wednesday, November 8th. The shares were 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. Insiders own 8.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in shares of Barnes Group by 143.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the industrial products company’s stock worth $294,000 after buying an additional 2,963 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Barnes Group in the 3rd quarter worth $6,274,000. BNP Paribas Arbitrage SA grew its stake in shares of Barnes Group by 52.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,979 shares of the industrial products company’s stock worth $1,052,000 after buying an additional 6,185 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Barnes Group in the 2nd quarter worth $304,000. Finally, Wasatch Advisors Inc. grew its stake in shares of Barnes Group by 112.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,282,296 shares of the industrial products company’s stock worth $90,325,000 after buying an additional 677,686 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.

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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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