Barnes Group (NYSE:B – Get Free Report) had its price target hoisted by Truist Financial from $34.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential downside of 6.10% from the company’s previous close.
A number of other brokerages have also commented on B. Oppenheimer upped their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, June 14th. DA Davidson upped their price target on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday.
Barnes Group Stock Performance
Barnes Group (NYSE:B – Get Free Report) last issued 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 company had revenue of $430.64 million for the quarter, compared to analyst estimates of $425.32 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Research analysts predict that Barnes Group will post 1.72 earnings per share for the current year.
Institutional Trading of Barnes Group
A number of hedge funds and other institutional investors have recently modified their holdings of B. Parallel Advisors LLC increased 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 valued at $40,000 after buying an additional 983 shares during the period. GAMMA Investing LLC bought a new position in shares of Barnes Group during the fourth quarter valued at $58,000. CWM LLC lifted its holdings in shares of Barnes Group by 470.7% during the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 1,732 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Barnes Group in the first quarter worth $107,000. Finally, TFO Wealth Partners LLC increased its holdings in Barnes Group by 57,362.5% in the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 4,589 shares during the period. 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.
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