Barnes Group (NYSE:B) Price Target Increased to $48.00 by Analysts at DA Davidson

Barnes Group (NYSE:B) had its target price increased by DA Davidson from $45.00 to $48.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

B has been the subject of several other research reports. StockNews.com raised Barnes Group from a sell rating to a hold rating in a research note on Monday, February 19th. Oppenheimer raised their price target on shares of Barnes Group from $36.00 to $43.00 and gave the company an outperform rating in a research note on Tuesday, February 20th.

Barnes Group Stock Performance

Shares of NYSE:B opened at $38.89 on Thursday. Barnes Group has a 1 year low of $18.79 and a 1 year high of $43.65. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 432.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53. The company’s 50 day simple moving average is $37.61 and its 200 day simple moving average is $34.83.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $430.64 million for the quarter, compared to analyst estimates of $425.32 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. As a group, research analysts predict that Barnes Group will post 1.73 EPS for the current fiscal year.

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, May 29th. Barnes Group’s dividend payout ratio (DPR) is currently 711.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in B. Pitcairn Co. lifted its stake in shares of Barnes Group by 6.0% in the first quarter. Pitcairn Co. now owns 9,743 shares of the industrial products company’s stock valued at $362,000 after buying an additional 548 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Barnes Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 44,350 shares of the industrial products company’s stock valued at $1,648,000 after acquiring an additional 574 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Barnes Group by 1.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,904 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 581 shares during the last quarter. ProShare Advisors LLC increased its holdings in Barnes Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,915 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 679 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 983 shares during the last quarter. Institutional investors 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.