TheStreet Downgrades Barnes Group (NYSE:B) to C+

Barnes Group (NYSE:B) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.

A number of other brokerages have also recently weighed in on B. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating and set a $53.00 price objective on the stock in a report on Tuesday, April 27th. Wells Fargo & Company lifted their target price on shares of Barnes Group from $9.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 27th. Finally, DA Davidson upped their price target on shares of Barnes Group from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, February 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.18.

Shares of NYSE B opened at $51.55 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 30.50, a P/E/G ratio of 2.77 and a beta of 1.28. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $51.01 and its two-hundred day simple moving average is $49.43. Barnes Group has a twelve month low of $30.71 and a twelve month high of $57.64.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Thursday, April 29th. The industrial products company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.07. Barnes Group had a net margin of 7.19% and a return on equity of 8.63%. The firm had revenue of $301.60 million for the quarter, compared to analyst estimates of $275.70 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Barnes Group will post 1.61 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of B. Norges Bank purchased a new stake in shares of Barnes Group in the fourth quarter worth $36,277,000. BlackRock Inc. boosted its stake in Barnes Group by 6.6% during the 4th quarter. BlackRock Inc. now owns 7,210,512 shares of the industrial products company’s stock valued at $365,501,000 after purchasing an additional 446,909 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Barnes Group by 123.2% during the fourth quarter. JPMorgan Chase & Co. now owns 342,358 shares of the industrial products company’s stock valued at $17,354,000 after purchasing an additional 188,973 shares in the last quarter. Aristotle Capital Boston LLC increased its holdings in Barnes Group by 28.7% in the 4th quarter. Aristotle Capital Boston LLC now owns 631,330 shares of the industrial products company’s stock worth $32,002,000 after buying an additional 140,782 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Barnes Group by 20.7% during the 4th quarter. Victory Capital Management Inc. now owns 758,042 shares of the industrial products company’s stock valued at $38,425,000 after acquiring an additional 130,172 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by 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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