Barnes Group (NYSE:B) PT Set at $65.00 by Oppenheimer

Barnes Group (NYSE:B) has been given a $65.00 target price by investment analysts at Oppenheimer in a report released on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Oppenheimer’s price objective points to a potential upside of 14.08% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. SunTrust Banks restated a “sell” rating and issued a $49.00 price objective on shares of Barnes Group in a report on Monday. Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Thursday, August 1st. ValuEngine upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, UBS Group dropped their price objective on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.00.

Shares of NYSE:B traded down $2.46 during midday trading on Friday, reaching $56.98. The company’s stock had a trading volume of 615,626 shares, compared to its average volume of 215,496. The firm has a market capitalization of $2.67 billion, a PE ratio of 17.70, a P/E/G ratio of 1.71 and a beta of 1.45. Barnes Group has a twelve month low of $42.39 and a twelve month high of $61.98. The stock has a fifty day moving average of $51.82 and a 200 day moving average of $52.10. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 0.73.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 25th. The industrial products company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The firm had revenue of $372.60 million for the quarter, compared to the consensus estimate of $377.42 million. During the same period last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that Barnes Group will post 3.18 earnings per share for the current fiscal year.

In related news, Director Mylle H. Mangum sold 1,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Marian Acker sold 3,054 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $57.03, for a total transaction of $174,169.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,811 shares of company stock worth $619,802. Corporate insiders own 8.35% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in Barnes Group by 1.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,581 shares of the industrial products company’s stock valued at $1,047,000 after acquiring an additional 300 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Barnes Group by 15.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barnes Group by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,359 shares of the industrial products company’s stock valued at $173,000 after acquiring an additional 362 shares in the last quarter. Anchor Capital Advisors LLC grew its position in Barnes Group by 1.0% in the third quarter. Anchor Capital Advisors LLC now owns 39,511 shares of the industrial products company’s stock valued at $2,036,000 after acquiring an additional 393 shares in the last quarter. Finally, Diversified Trust Co grew its position in Barnes Group by 7.1% in the third quarter. Diversified Trust Co now owns 6,400 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 85.88% 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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Analyst Recommendations for Barnes Group (NYSE:B)

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