Barnes Group Inc. (NYSE:B) Receives $60.67 Consensus PT from Brokerages

Barnes Group Inc. (NYSE:B) has received a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $60.67.

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

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

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Barnes Group by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 508,810 shares of the industrial products company’s stock worth $27,282,000 after purchasing an additional 36,657 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Barnes Group by 226.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,130 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 7,725 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Barnes Group by 0.4% in the 1st quarter. Janus Henderson Group PLC now owns 536,730 shares of the industrial products company’s stock worth $27,593,000 after purchasing an additional 2,145 shares during the last quarter. Rhumbline Advisers lifted its holdings in Barnes Group by 0.9% in the 1st quarter. Rhumbline Advisers now owns 153,246 shares of the industrial products company’s stock worth $7,878,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Barnes Group by 5.4% in the 1st quarter. Comerica Bank now owns 48,775 shares of the industrial products company’s stock worth $2,616,000 after purchasing an additional 2,494 shares during the last quarter. Institutional investors and hedge funds own 85.86% of the company’s stock.

Shares of NYSE B traded up $2.42 on Friday, hitting $55.19. The company had a trading volume of 451,200 shares, compared to its average volume of 206,388. Barnes Group has a 12-month low of $42.39 and a 12-month high of $72.70. The business has a 50 day moving average of $46.75 and a two-hundred day moving average of $52.67. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2.56 billion, a P/E ratio of 17.14, a PEG ratio of 2.30 and a beta of 1.46.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $387.29 million. Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side analysts anticipate that Barnes Group will post 3.14 earnings per share for the current year.

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

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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