Barnes Group (NYSE:B) Rating Increased to Buy at DA Davidson

Barnes Group (NYSE:B) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $45.00 price target on the industrial products company’s stock, up from their prior price target of $35.00. DA Davidson’s target price indicates a potential upside of 25.84% from the company’s current price.

B has been the topic of several other research reports. Oppenheimer lifted their price objective on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. Finally, Truist Financial increased their price objective 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 Stock Performance

Shares of NYSE B opened at $35.76 on Thursday. Barnes Group has a 1 year low of $18.79 and a 1 year high of $43.65. The firm has a market cap of $1.81 billion, a P/E ratio of 115.36, a PEG ratio of 1.98 and a beta of 1.38. The stock has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $31.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29.

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

Hedge Funds Weigh In On Barnes Group

A number of hedge funds have recently modified their holdings of B. Metropolitan Life Insurance Co NY grew its position in Barnes Group by 9.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,164 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 286 shares in the last quarter. State of Wyoming increased its position in Barnes Group by 7.9% during the second quarter. State of Wyoming now owns 4,401 shares of the industrial products company’s stock worth $186,000 after buying an additional 322 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Barnes Group by 9.6% during the third quarter. Public Employees Retirement System of Ohio now owns 4,574 shares of the industrial products company’s stock valued at $132,000 after buying an additional 402 shares in the last quarter. Occudo Quantitative Strategies LP lifted its position in shares of Barnes Group by 2.3% in the second quarter. Occudo Quantitative Strategies LP now owns 19,347 shares of the industrial products company’s stock worth $602,000 after buying an additional 427 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Barnes Group by 2.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,839 shares of the industrial products company’s stock worth $742,000 after acquiring an additional 483 shares in the last quarter. 90.82% of the stock is 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.