Barnes Group, Inc. (NYSE:B) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday, October 2nd.

Other equities analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. raised their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price objective on shares of Barnes Group in a research note on Thursday, June 8th. Finally, Deutsche Bank AG raised their price objective on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Barnes Group currently has a consensus rating of “Buy” and an average target price of $65.75.

Barnes Group (NYSE B) traded up 0.04% during midday trading on Monday, reaching $71.54. 107,626 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $66.99 and its 200-day moving average price is $59.34. The company has a market capitalization of $3.85 billion, a PE ratio of 25.01 and a beta of 1.45. Barnes Group has a 1-year low of $37.95 and a 1-year high of $73.84.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $364.49 million during the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities analysts expect that Barnes Group will post $2.90 EPS for the current year.

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In other news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas O. Barnes sold 755 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total value of $46,221.10. The disclosure for this sale can be found here. Insiders sold 8,755 shares of company stock valued at $528,361 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. grew its position in shares of Barnes Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,638 shares of the industrial products company’s stock valued at $564,000 after purchasing an additional 25 shares during the period. Miles Capital Inc. lifted its stake in Barnes Group by 1.7% in the 1st quarter. Miles Capital Inc. now owns 4,389 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 74 shares in the last quarter. Bank of Montreal Can lifted its stake in Barnes Group by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 81 shares in the last quarter. LS Investment Advisors LLC lifted its stake in Barnes Group by 4.6% in the 2nd quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 85 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Barnes Group by 0.5% in the 2nd quarter. Jennison Associates LLC now owns 19,427 shares of the industrial products company’s stock valued at $1,137,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.

Barnes Group Company Profile

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

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Analyst Recommendations for Barnes Group (NYSE:B)

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