Barnes Group (NYSE:B) Upgraded to “Buy” by DA Davidson

Barnes Group (NYSE:B) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Thursday, Briefing.com reports. The brokerage presently has a $45.00 price target on the industrial products company’s stock, up from their previous price target of $35.00. DA Davidson’s price target indicates a potential upside of 34.73% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Oppenheimer lifted their target price on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Truist Financial lifted their target price on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th.

Barnes Group Trading Down 1.6 %

NYSE B opened at $33.40 on Thursday. The business has a 50 day simple moving average of $36.01 and a 200 day simple moving average of $31.84. Barnes Group has a one year low of $18.79 and a one year high of $43.65. The stock has a market capitalization of $1.69 billion, a P/E ratio of 107.74, a P/E/G ratio of 2.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.29 and a quick ratio of 1.37.

Barnes Group (NYSE:B) last released its earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis. Research analysts expect that Barnes Group will post 1.69 earnings per share for the current year.

Institutional Trading of Barnes Group

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Barnes Group in the second quarter valued at $51,000. Parallel Advisors LLC increased its stake in Barnes Group by 418.3% in the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 983 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Barnes Group by 275.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,258 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Barnes Group during the 4th quarter valued at about $58,000. Finally, CWM LLC increased its position in shares of Barnes Group by 470.7% during the 4th quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,732 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.