Barnes Group (NYSE:B) was downgraded by equities researchers at TheStreet from a "b-" rating to a "c+" rating in a note issued to investors on Friday, TheStreetRatingsTable reports.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Barnes Group from a "sell" rating to a "hold" rating and set a $53.00 target price for the company in a research note on Tuesday, April 27th. DA Davidson raised their price objective on shares of Barnes Group from $36.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, February 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Barnes Group from $9.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Barnes Group presently has a consensus rating of "Hold" and a consensus target price of $43.18.
Shares of NYSE:B opened at $51.55 on Friday. The firm has a market capitalization of $2.61 billion, a PE ratio of 30.50, a P/E/G ratio of 2.77 and a beta of 1.28. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $51.01 and a two-hundred day moving average price of $49.43. Barnes Group has a twelve month low of $30.71 and a twelve month high of $57.64.
Barnes Group (NYSE:B) last released its quarterly earnings data on Thursday, April 29th. The industrial products company reported $0.38 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.31 by $0.07. The company had revenue of $301.60 million during the quarter, compared to the consensus estimate of $275.70 million. Barnes Group had a net margin of 7.19% and a return on equity of 8.63%. Barnes Group's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. Analysts anticipate that Barnes Group will post 1.61 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Barnes Group in the 4th quarter valued at $36,277,000. BlackRock Inc. grew its stake in shares of Barnes Group by 6.6% during the fourth quarter. BlackRock Inc. now owns 7,210,512 shares of the industrial products company's stock valued at $365,501,000 after buying an additional 446,909 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Barnes Group by 123.2% during the fourth quarter. JPMorgan Chase & Co. now owns 342,358 shares of the industrial products company's stock valued at $17,354,000 after buying an additional 188,973 shares during the last quarter. Aristotle Capital Boston LLC increased its holdings in shares of Barnes Group by 28.7% in the fourth quarter. Aristotle Capital Boston LLC now owns 631,330 shares of the industrial products company's stock worth $32,002,000 after buying an additional 140,782 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Barnes Group by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 758,042 shares of the industrial products company's stock valued at $38,425,000 after acquiring an additional 130,172 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.
Barnes Group Company Profile
Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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