Barnes Group (NYSE:B) Rating Increased to Buy at UBS Group

Barnes Group (NYSE:B) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $72.00 price objective on the industrial products company’s stock, up from their previous price objective of $60.00. UBS Group’s price objective indicates a potential upside of 13.23% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. SunTrust Banks upgraded shares of Barnes Group from a “sell” rating to a “hold” rating and upped their price target for the company from $49.00 to $57.00 in a report on Wednesday, January 8th. Morgan Stanley upped their price target on shares of Barnes Group from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Citigroup upped their price target on shares of Barnes Group from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, Oppenheimer set a $65.00 price target on shares of Barnes Group and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $62.50.

Shares of B opened at $63.59 on Wednesday. The firm has a 50 day moving average price of $61.73 and a 200-day moving average price of $54.73. Barnes Group has a fifty-two week low of $42.39 and a fifty-two week high of $64.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 2.23. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.86 and a beta of 1.43.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 25th. The industrial products company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.11. Barnes Group had a net margin of 10.38% and a return on equity of 13.61%. The company had revenue of $372.60 million during the quarter, compared to analyst estimates of $377.42 million. During the same period in the prior year, the business posted $0.78 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Barnes Group will post 3.18 earnings per share for the current year.

In other Barnes Group news, CEO Patrick Dempsey sold 57,389 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $61.28, for a total value of $3,516,797.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $61.05, for a total transaction of $152,625.00. The disclosure for this sale can be found here. Insiders have sold a total of 109,238 shares of company stock valued at $6,592,648 over the last quarter. 8.35% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY raised its holdings in Barnes Group by 1.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 15,123 shares of the industrial products company’s stock worth $779,000 after purchasing an additional 215 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Barnes Group by 15.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund raised its holdings in Barnes Group by 0.9% in the 3rd quarter. Texas Permanent School Fund now owns 32,387 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 304 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Barnes Group by 12.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,359 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 362 shares in the last quarter. Finally, Mason Street Advisors LLC raised its holdings in Barnes Group by 2.4% in the 3rd quarter. Mason Street Advisors LLC now owns 16,157 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 86.72% of the company’s stock.

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.

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Analyst Recommendations for Barnes Group (NYSE:B)

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