Barnes Group (NYSE:B) Upgraded to “Buy” by DA Davidson

DA Davidson upgraded shares of Barnes Group (NYSE:B) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have $45.00 price objective on the industrial products company’s stock, up from their prior price objective of $35.00.

Several other equities research analysts have also commented on B. Truist Financial boosted their target price on shares of Barnes Group from $23.00 to $34.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. Oppenheimer boosted their target price on shares of Barnes Group from $36.00 to $43.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. 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 Stock Performance

Shares of B opened at $36.10 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29. The stock has a market capitalization of $1.83 billion, a P/E ratio of 116.46, a P/E/G ratio of 2.01 and a beta of 1.38. The company’s fifty day moving average is $36.04 and its two-hundred day moving average is $31.87. Barnes Group has a 1 year low of $18.79 and a 1 year high of $43.65.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The company had revenue of $415.50 million for 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%. Barnes Group’s revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts predict that Barnes Group will post 1.69 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.77%. Barnes Group’s dividend payout ratio is presently 206.46%.

Institutional Investors Weigh In On Barnes Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new position in Barnes Group in the 2nd quarter valued at about $51,000. Parallel Advisors LLC lifted its holdings in Barnes Group by 418.3% in the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Barnes Group by 275.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,258 shares in the last quarter. GAMMA Investing LLC purchased a new position in Barnes Group in the 4th quarter valued at about $58,000. Finally, CWM LLC lifted its holdings in Barnes Group by 470.7% in the 4th quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,732 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.