DA Davidson Upgrades Barnes Group (NYSE:B) to Buy

Barnes Group (NYSE:B) was upgraded by equities research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $45.00 target price on the industrial products company’s stock, up from their previous target price of $35.00. DA Davidson’s price target points to a potential upside of 25.84% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Oppenheimer boosted their target price on shares of Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial boosted their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th.

Barnes Group Trading Down 0.9 %

NYSE:B opened at $35.76 on Thursday. Barnes Group has a 52-week low of $18.79 and a 52-week high of $43.65. The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $36.05 and a 200-day simple moving average of $31.88. The company has a market capitalization of $1.81 billion, a PE ratio of 115.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38.

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

Institutional Trading of Barnes Group

A number of institutional investors and hedge funds have recently made changes to their positions in B. Quadrature Capital Ltd acquired a new position in shares of Barnes Group in the 4th quarter valued at about $322,000. Vanguard Group Inc. grew its stake in Barnes Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after buying an additional 20,267 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Barnes Group by 4.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 94,152 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 3,642 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Barnes Group by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,407 shares of the industrial products company’s stock valued at $993,000 after acquiring an additional 2,509 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Barnes Group by 1,506.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 21,420 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 20,087 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.