Barnes Group (NYSE:B – Get Rating) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.
Other analysts have also issued reports about the stock. DA Davidson cut their target price on shares of Barnes Group to $36.00 in a research report on Tuesday, August 9th. Truist Financial cut their target price on shares of Barnes Group from $38.00 to $33.00 and set a "hold" rating for the company in a research report on Tuesday, July 19th.
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Barnes Group Stock Performance
Shares of B stock traded down $1.45 during trading hours on Friday, reaching $32.47. The company had a trading volume of 147,658 shares, compared to its average volume of 216,074. The business has a fifty day moving average price of $32.65 and a 200-day moving average price of $36.61. Barnes Group has a one year low of $29.60 and a one year high of $49.10. The firm has a market cap of $1.64 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.42.
Barnes Group (NYSE:B – Get Rating) last announced its quarterly earnings results on Friday, July 29th. The industrial products company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Barnes Group had a net
margin of 2.91% and a return on equity of 7.57%. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $329.09 million. During the same period in the previous year, the business posted $0.45 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts predict that Barnes Group will post 1.96 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Barnes Group
Hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System raised its holdings in Barnes Group by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 18,568 shares of the industrial products company's stock valued at $865,000 after buying an additional 260 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in Barnes Group by 1.3% in the first quarter. Cornercap Investment Counsel Inc. now owns 25,954 shares of the industrial products company's stock valued at $1,043,000 after buying an additional 342 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Barnes Group by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 6,711 shares of the industrial products company's stock worth $270,000 after purchasing an additional 348 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Barnes Group by 1.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 21,500 shares of the industrial products company's stock worth $864,000 after acquiring an additional 350 shares during the period. Finally, Occudo Quantitative Strategies LP grew its holdings in Barnes Group by 2.3% in the second quarter. Occudo Quantitative Strategies LP now owns 19,347 shares of the industrial products company's stock valued at $602,000 after purchasing an additional 427 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.
Barnes Group Company Profile
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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 mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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