Barnes Group (NYSE:B) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “

A number of other brokerages also recently commented on B. DA Davidson reduced their target price on shares of Barnes Group to $56.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. SunTrust Banks reiterated a “hold” rating and issued a $57.00 target price on shares of Barnes Group in a report on Friday, February 22nd. UBS Group downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $72.00 to $65.00 in a report on Friday, February 15th. Finally, Alembic Global Advisors began coverage on shares of Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $64.86.

NYSE:B traded down $2.14 during mid-day trading on Thursday, reaching $53.24. The company’s stock had a trading volume of 242,748 shares, compared to its average volume of 208,707. Barnes Group has a 1 year low of $49.06 and a 1 year high of $72.70. The firm has a market cap of $2.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.16 and a quick ratio of 1.46.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The company had revenue of $376.69 million during the quarter, compared to analyst estimates of $374.04 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Barnes Group will post 3.23 EPS for the current fiscal year.

In other news, CFO Christopher J. Stephens sold 13,200 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $58.94, for a total transaction of $778,008.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Dawn N. Edwards sold 1,750 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $55.44, for a total transaction of $97,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,450 shares of company stock worth $1,684,238. Corporate insiders own 8.35% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in Barnes Group by 269.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 700 shares in the last quarter. Bank of Montreal Can boosted its position in Barnes Group by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,510 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 343 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in Barnes Group by 0.4% in the 4th quarter. Mondrian Investment Partners LTD now owns 66,995 shares of the industrial products company’s stock worth $3,592,000 after purchasing an additional 242 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Barnes Group by 11.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,462 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 367 shares in the last quarter. Finally, Private Capital Group LLC boosted its position in Barnes Group by 213.2% in the 4th quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 516 shares in the last quarter. Institutional investors own 84.86% 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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