DA Davidson Initiates Coverage on Barnes Group (B)

Equities researchers at DA Davidson assumed coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Friday, The Fly reports. The brokerage set a “neutral” rating on the industrial products company’s stock.

B has been the topic of several other research reports. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Wednesday, March 28th. ValuEngine lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Barnes Group has a consensus rating of “Buy” and a consensus target price of $67.00.

Shares of NYSE B opened at $60.75 on Friday. The stock has a market capitalization of $3.17 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.56 and a current ratio of 2.27. Barnes Group has a 1 year low of $59.80 and a 1 year high of $60.40.

Barnes Group (NYSE:B) last issued its earnings results on Friday, April 27th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $366.70 million for the quarter, compared to analyst estimates of $362.71 million. Barnes Group had a net margin of 4.12% and a return on equity of 12.17%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. analysts expect that Barnes Group will post 3.1 EPS for the current year.

In other Barnes Group news, Director Thomas O. Barnes sold 1,700 shares of Barnes Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $63.36, for a total value of $107,712.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Marian Acker sold 7,860 shares of Barnes Group stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $63.12, for a total transaction of $496,123.20. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,829 shares of company stock worth $109,262 and sold 11,560 shares worth $722,115. Insiders own 8.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Barnes Group by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock valued at $196,000 after buying an additional 1,003 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Barnes Group by 10.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,796 shares of the industrial products company’s stock valued at $683,000 after purchasing an additional 1,008 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Barnes Group by 1.1% in the first quarter. Legal & General Group Plc now owns 100,963 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 1,095 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of Barnes Group by 16.8% in the fourth quarter. FDx Advisors Inc. now owns 7,629 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Barnes Group by 5.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the industrial products company’s stock valued at $1,341,000 after purchasing an additional 1,100 shares during the last quarter. 88.94% of the stock is currently owned by hedge funds and other 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, consumer products, packaging, electronics, medical devices, and energy.

The Fly

Analyst Recommendations for Barnes Group (NYSE:B)

Receive News & Ratings for Barnes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Mackay Shields LLC Acquires Shares of 30,300 LSC Communications
Mackay Shields LLC Acquires Shares of 30,300 LSC Communications
Mackay Shields LLC Invests $553,000 in Range Resources Corp.
Mackay Shields LLC Invests $553,000 in Range Resources Corp.
50,700 Shares in Immersion Co.  Purchased by Mackay Shields LLC
50,700 Shares in Immersion Co. Purchased by Mackay Shields LLC
SG Americas Securities LLC Takes $952,000 Position in Core-Mark Holding Company, Inc.
SG Americas Securities LLC Takes $952,000 Position in Core-Mark Holding Company, Inc.
Schlumberger Limited.  Position Boosted by Zeke Capital Advisors LLC
Schlumberger Limited. Position Boosted by Zeke Capital Advisors LLC
Aecon Group’s  “Outperform Overweight” Rating Reiterated at National Bank Financial
Aecon Group’s “Outperform Overweight” Rating Reiterated at National Bank Financial


Leave a Reply

 
© 2006-2018 Zolmax.