Barnes Group (NYSE:B) Price Target Raised to $60.00 at Morgan Stanley

Barnes Group (NYSE:B) had its target price increased by research analysts at Morgan Stanley from $56.00 to $60.00 in a research note issued on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential downside of 1.69% from the stock’s previous close.

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Oppenheimer set a $65.00 price objective on shares of Barnes Group and gave the company a “buy” rating in a research note on Friday, October 25th. UBS Group raised their price objective on shares of Barnes Group from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. SunTrust Banks raised their price objective on shares of Barnes Group from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Citigroup raised their price objective on shares of Barnes Group from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.88.

NYSE:B opened at $61.03 on Monday. The firm has a market cap of $3.11 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 2.23. Barnes Group has a fifty-two week low of $42.39 and a fifty-two week high of $62.19. The firm has a 50-day simple moving average of $59.31 and a two-hundred day simple moving average of $53.20.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, October 25th. The industrial products company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. The business had revenue of $372.60 million during the quarter, compared to analyst estimates of $377.42 million. Barnes Group had a net margin of 10.38% and a return on equity of 13.61%. Barnes Group’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, equities research analysts predict that Barnes Group will post 3.18 EPS for the current year.

In other news, CEO Patrick Dempsey sold 23,390 shares of Barnes Group stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.29, for a total value of $1,410,183.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Stephens sold 21,265 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $58.32, for a total transaction of $1,240,174.80. The disclosure for this sale can be found here. Insiders sold 114,256 shares of company stock valued at $6,863,018 over the last quarter. Company insiders own 8.35% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Doyle Wealth Management purchased a new position in shares of Barnes Group in the second quarter worth approximately $28,000. Parallel Advisors LLC boosted its holdings in shares of Barnes Group by 226.2% in the third quarter. Parallel Advisors LLC now owns 672 shares of the industrial products company’s stock worth $35,000 after buying an additional 466 shares during the last quarter. First Mercantile Trust Co. purchased a new position in shares of Barnes Group in the third quarter worth approximately $51,000. LS Investment Advisors LLC boosted its holdings in shares of Barnes Group by 41.0% in the third quarter. LS Investment Advisors LLC now owns 1,990 shares of the industrial products company’s stock worth $103,000 after buying an additional 579 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of 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 worth $116,000 after buying an additional 300 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors.

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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