Barnes Group (NYSE:B) Upgraded at DA Davidson

Barnes Group (NYSE:B - Get Free Report) was upgraded by DA Davidson from a "neutral" rating to a "buy" rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $45.00 price target on the industrial products company's stock, up from their previous price target of $35.00. DA Davidson's price objective points to a potential upside of 24.65% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer raised their price target on shares of Barnes Group from $36.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 20th. StockNews.com raised shares of Barnes Group from a "sell" rating to a "hold" rating in a research report on Monday, February 19th. Finally, Truist Financial raised their target price on shares of Barnes Group from $23.00 to $34.00 and gave the stock a "hold" rating in a research report on Wednesday, January 10th.

Barnes Group Price Performance

NYSE B traded up $2.71 during trading hours on Thursday, reaching $36.10. The company's stock had a trading volume of 481,602 shares, compared to its average volume of 332,541. The stock has a market cap of $1.83 billion, a PE ratio of 116.46, a PEG ratio of 2.01 and a beta of 1.38. Barnes Group has a fifty-two week low of $18.79 and a fifty-two week high of $43.65. The company's 50-day moving average is $36.04 and its two-hundred day moving average is $31.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29.

Barnes Group (NYSE:B - Get Free Report) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to analysts' expectations of $420.47 million. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The firm's revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. Analysts forecast that Barnes Group will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of Barnes Group during the second quarter valued at approximately $51,000. Parallel Advisors LLC raised its stake in shares of Barnes Group by 418.3% during the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 983 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Barnes Group by 275.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 1,258 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Barnes Group during the fourth quarter valued at approximately $58,000. Finally, CWM LLC raised its stake in shares of Barnes Group by 470.7% during the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 1,732 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.