Barnes Group’s (B) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.

SunTrust Banks, Inc. restated their hold rating on shares of Barnes Group, Inc. (NYSE:B) in a report released on Thursday. They currently have a $60.00 price objective on the industrial products company’s stock.

B has been the subject of a number of other reports. ValuEngine downgraded Barnes Group from a buy rating to a hold rating in a report on Monday, October 2nd. BidaskClub downgraded Barnes Group from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Deutsche Bank AG increased their price objective on Barnes Group from $65.00 to $70.00 and gave the company a buy rating in a report on Friday, September 8th. Finally, Oppenheimer Holdings, Inc. increased their price target on Barnes Group from $58.00 to $67.00 and gave the stock an outperform rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $65.75.

Shares of Barnes Group (B) traded up 0.04% during midday trading on Thursday, hitting $71.54. The company had a trading volume of 107,626 shares. Barnes Group has a one year low of $37.95 and a one year high of $73.84. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 25.01 and a beta of 1.45. The stock’s 50-day moving average price is $66.67 and its 200-day moving average price is $59.18.

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

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

Several hedge funds have recently added to or reduced their stakes in B. UBS Asset Management Americas Inc. boosted its position in shares of Barnes Group by 40.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 30,227 shares of the industrial products company’s stock worth $1,552,000 after purchasing an additional 8,778 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Barnes Group by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 11,705 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 769 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Barnes Group by 1.6% during the 1st quarter. Arizona State Retirement System now owns 26,126 shares of the industrial products company’s stock worth $1,341,000 after purchasing an additional 400 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Barnes Group by 21.9% during the 1st quarter. OppenheimerFunds Inc. now owns 18,810 shares of the industrial products company’s stock worth $965,000 after purchasing an additional 3,380 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Barnes Group by 1.9% during the 1st quarter. Legal & General Group Plc now owns 88,252 shares of the industrial products company’s stock worth $4,529,000 after purchasing an additional 1,673 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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