Barnes Group Inc. (NYSE:B) – Equities researchers at DA Davidson dropped their Q2 2019 earnings per share (EPS) estimates for shares of Barnes Group in a research report issued to clients and investors on Monday, April 29th. DA Davidson analyst M. Summerville now forecasts that the industrial products company will post earnings per share of $0.78 for the quarter, down from their prior forecast of $0.82. DA Davidson currently has a “Neutral” rating and a $56.00 target price on the stock. DA Davidson also issued estimates for Barnes Group’s Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.88 EPS, Q1 2020 earnings at $0.83 EPS, Q2 2020 earnings at $0.87 EPS and Q3 2020 earnings at $0.90 EPS.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. UBS Group lowered shares of Barnes Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $72.00 to $65.00 in a research note on Friday, February 15th. SunTrust Banks restated a “hold” rating and set a $57.00 price target on shares of Barnes Group in a research note on Friday, February 22nd. Finally, Sidoti upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $64.50.
Shares of Barnes Group stock opened at $55.62 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 1.51 and a debt-to-equity ratio of 0.78. Barnes Group has a 12-month low of $49.06 and a 12-month high of $72.70. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.38 and a beta of 1.45.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $376.69 million during the quarter, compared to analyst estimates of $374.04 million. Barnes Group had a net margin of 11.11% and a return on equity of 13.95%. Barnes Group’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in shares of Barnes Group by 0.4% during the first quarter. Janus Henderson Group PLC now owns 536,730 shares of the industrial products company’s stock valued at $27,593,000 after purchasing an additional 2,145 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Barnes Group by 29.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 451,709 shares of the industrial products company’s stock valued at $23,217,000 after buying an additional 104,075 shares during the last quarter. Quantamental Technologies LLC grew its holdings in shares of Barnes Group by 575.0% during the first quarter. Quantamental Technologies LLC now owns 2,700 shares of the industrial products company’s stock valued at $139,000 after buying an additional 2,300 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Barnes Group by 171.7% during the first quarter. SG Americas Securities LLC now owns 39,512 shares of the industrial products company’s stock valued at $2,031,000 after buying an additional 24,970 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Barnes Group by 0.3% during the first quarter. Arizona State Retirement System now owns 72,884 shares of the industrial products company’s stock valued at $3,747,000 after buying an additional 193 shares during the last quarter. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Richard J. Hipple purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average cost of $58.83 per share, with a total value of $58,830.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Stephens sold 13,200 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total transaction of $778,008.00. The disclosure for this sale can be found here. 8.35% of the stock is owned by corporate insiders.
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.