In a report released on August 30, Michael Ciarmoli from Truist Financial maintained a Hold rating on Barnes Group (B – Research Report), with a price target of $40.00. The company’s shares closed last Friday at $39.22.
According to TipRanks, Ciarmoli is a 5-star analyst with an average return of 10.8% and a 62.04% success rate. Ciarmoli covers the Industrials sector, focusing on stocks such as Leonardo Drs, Moog, and Ducommun.
The word on The Street in general, suggests a Hold analyst consensus rating for Barnes Group with a $40.00 average price target.
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Based on Barnes Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $338.98 million and a net profit of $17.35 million. In comparison, last year the company earned a revenue of $312.38 million and had a net profit of $20.48 million
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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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