Analysts Offer Predictions for Barnes Group FY2024 Earnings

Barnes Group Inc. (NYSE:B) – Analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Barnes Group in a research note issued to investors on Tuesday, October 29th. DA Davidson analyst M. Summerville now forecasts that the industrial products company will earn $1.30 per share for the year, down from their prior estimate of $1.60. DA Davidson has a “Neutral” rating and a $47.50 price target on the stock. The consensus estimate for Barnes Group’s current full-year earnings is $1.62 per share.

Other equities research analysts also recently issued reports about the stock. Truist Financial raised their target price on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th. StockNews.com started coverage on shares of Barnes Group in a research note on Friday, October 25th. They issued a “sell” rating for the company.

Barnes Group Trading Down 0.0 %

Barnes Group stock opened at $46.76 on Thursday. The firm has a 50-day moving average of $41.65 and a 200-day moving average of $39.91. Barnes Group has a one year low of $19.74 and a one year high of $47.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -60.73, a P/E/G ratio of 2.87 and a beta of 1.38.

Institutional Trading of Barnes Group

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Barnes Group during the 1st quarter worth approximately $107,000. SG Americas Securities LLC acquired a new stake in Barnes Group in the third quarter valued at approximately $178,000. QRG Capital Management Inc. acquired a new stake in Barnes Group in the first quarter valued at approximately $217,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Barnes Group in the first quarter valued at approximately $253,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.