Barnes Group (NYSE:B – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
Other analysts also recently issued research reports about the company. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research note on Monday. Truist Financial raised their price objective on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Oppenheimer raised their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th.
Read Our Latest Research Report on B
Barnes Group Trading Up 0.1 %
Barnes Group (NYSE:B – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The company had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, equities analysts predict that Barnes Group will post 1.62 EPS for the current year.
Hedge Funds Weigh In On Barnes Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd bought a new stake in shares of Barnes Group during the first quarter worth approximately $497,000. Renaissance Technologies LLC boosted its holdings in shares of Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 31,000 shares during the period. Invenomic Capital Management LP bought a new stake in shares of Barnes Group during the fourth quarter worth approximately $7,759,000. Vanguard Group Inc. boosted its holdings in shares of Barnes Group by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after acquiring an additional 206,351 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in shares of Barnes Group during the second quarter worth approximately $714,000. Institutional investors own 90.82% of the company’s stock.
About Barnes Group
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.
See Also
- Five stocks we like better than Barnes Group
- 3 Stocks to Consider Buying in October
- NVIDIA’s AI Dominance: Why Analysts Predict Major Upside Ahead
- Business Services Stocks Investing
- These Stocks Are Using Buybacks to Unlock Big Gains for Investors
- Insider Selling Explained: Can it Inform Your Investing Choices?
- This Is the Entry Into PepsiCo You’ve Been Waiting For
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.