Barnes Group (NYSE:B) PT Raised to $42.00 at Zacks Investment Research

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Barnes Group (NYSE:B) had its target price boosted by Zacks Investment Research to $42.00 in a research note issued on Thursday, 24/7 WallStreet reports. Zacks Investment Research‘s target price points to a potential upside of 17.06% from the company’s current price.

Several other analysts also recently weighed in on the company. Sidoti decreased their price objective on Barnes Group from $78.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, March 19th. MKM Partners decreased their price objective on Barnes Group from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 6th. Oppenheimer started coverage on Barnes Group in a report on Tuesday, May 5th. They issued a “buy” rating and a $49.00 price objective for the company. UBS Group decreased their price objective on Barnes Group from $70.00 to $50.00 and set a “buy” rating for the company in a report on Friday, April 17th. Finally, SunTrust Banks decreased their price objective on Barnes Group from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $44.92.

Shares of NYSE:B traded down $0.26 on Thursday, hitting $35.88. 166,882 shares of the company’s stock were exchanged, compared to its average volume of 328,366. Barnes Group has a 12 month low of $30.22 and a 12 month high of $68.60. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16. The business’s 50 day simple moving average is $37.50 and its two-hundred day simple moving average is $53.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.15 and a quick ratio of 1.47.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, April 24th. The industrial products company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.19. The firm had revenue of $331.00 million during the quarter, compared to the consensus estimate of $313.44 million. Barnes Group had a return on equity of 13.36% and a net margin of 10.66%. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Equities analysts forecast that Barnes Group will post 1.84 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Barnes Group during the fourth quarter worth about $35,917,000. UBS Asset Management Americas Inc. grew its stake in shares of Barnes Group by 2.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 56,123 shares of the industrial products company’s stock worth $3,477,000 after acquiring an additional 1,113 shares during the last quarter. Man Group plc grew its stake in shares of Barnes Group by 521.0% during the fourth quarter. Man Group plc now owns 40,576 shares of the industrial products company’s stock worth $2,514,000 after acquiring an additional 34,042 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Barnes Group by 2.2% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 14,560 shares of the industrial products company’s stock worth $902,000 after acquiring an additional 320 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Barnes Group by 19.3% during the fourth quarter. California Public Employees Retirement System now owns 141,449 shares of the industrial products company’s stock worth $8,764,000 after acquiring an additional 22,884 shares during the last quarter. Institutional investors and hedge funds own 89.00% of the company’s stock.

Barnes Group Company Profile

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, automation, personal care, packaging, electronics, and medical devices.

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