Barnes Group (B) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Barnes Group (NYSE:B) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “

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A number of other research firms also recently commented on B. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a report on Friday, February 2nd. SunTrust Banks restated a hold rating and issued a $67.00 price objective on shares of Barnes Group in a report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $67.00.

Shares of B opened at $62.14 on Wednesday. The stock has a market capitalization of $3,327.15, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. Barnes Group has a fifty-two week low of $51.03 and a fifty-two week high of $72.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.67 and a current ratio of 2.43.

Barnes Group (NYSE:B) last issued its earnings results on Friday, February 16th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $373.00 million for the quarter, compared to the consensus estimate of $357.77 million. Barnes Group had a return on equity of 12.36% and a net margin of 4.15%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. sell-side analysts expect that Barnes Group will post 3.07 EPS for the current fiscal year.

In other news, VP Marian Acker sold 7,860 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total value of $496,123.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Hipple acquired 1,300 shares of Barnes Group stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $62.06 per share, with a total value of $80,678.00. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of B. New York State Common Retirement Fund lifted its position in Barnes Group by 35.9% in the third quarter. New York State Common Retirement Fund now owns 74,600 shares of the industrial products company’s stock worth $5,255,000 after purchasing an additional 19,700 shares during the period. Wells Fargo & Company MN lifted its position in Barnes Group by 8.8% in the third quarter. Wells Fargo & Company MN now owns 157,425 shares of the industrial products company’s stock worth $11,089,000 after purchasing an additional 12,705 shares during the period. Envestnet Asset Management Inc. lifted its position in Barnes Group by 29.2% in the third quarter. Envestnet Asset Management Inc. now owns 13,847 shares of the industrial products company’s stock worth $974,000 after purchasing an additional 3,127 shares during the period. Cubist Systematic Strategies LLC bought a new position in Barnes Group in the third quarter worth $867,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Barnes Group by 156.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 1,342 shares during the period. 87.82% of the stock is owned by hedge funds and other institutional investors.

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About Barnes Group

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.

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