In a report released today, Matt Summerville from D.A. Davidson maintained a Hold rating on Barnes Group (B – Research Report). The company’s shares closed yesterday at $41.00.
According to TipRanks, Summerville is ranked #2289 out of 8336 analysts.
Currently, the analyst consensus on Barnes Group is a Moderate Buy with an average price target of $38.00.
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Based on Barnes Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $335.36 million and a net profit of $13.16 million. In comparison, last year the company earned a revenue of $310.95 million and had a net profit of $28.09 million
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of B in relation to earlier this year.
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Barnes Group, Inc. engages in the provision of engineered products, industrial technologies, and solutions, serving a wide range of end markets and customers. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions; force and motion control; and automation and engineered components business units. The Aerospace segment consists of original equipment manufacturing (OEM) business, maintenance repair and overhaul (MRO) services, and the manufacture and delivery of aerospace aftermarket spare parts. The company was founded by Wallace Barnes in 1857 and is headquartered in Bristol, CT.
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