FY2024 EPS Estimates for Barnes Group Cut by DA Davidson

Barnes Group Inc. (NYSE:B) – DA Davidson dropped their FY2024 earnings estimates for shares of Barnes Group in a report released on Tuesday, October 29th. DA Davidson analyst M. Summerville now anticipates that the industrial products company will post earnings of $1.30 per share for the year, down from their previous estimate of $1.60. DA Davidson has a “Neutral” rating and a $47.50 price objective on the stock. The consensus estimate for Barnes Group’s current full-year earnings is $1.46 per share.

B has been the topic of several other research reports. StockNews.com began coverage on shares of Barnes Group in a report on Saturday. They set a “sell” rating on the stock. Truist Financial lifted their target price on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Stock Down 0.0 %

Shares of B opened at $46.75 on Thursday. The firm has a market cap of $2.38 billion, a PE ratio of -60.71, a price-to-earnings-growth ratio of 3.22 and a beta of 1.38. The company’s fifty day moving average is $41.99 and its two-hundred day moving average is $40.04. Barnes Group has a fifty-two week low of $20.85 and a fifty-two week high of $47.12. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On Barnes Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Barnes Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after acquiring an additional 20,267 shares during the period. BNP Paribas Financial Markets raised its stake in Barnes Group by 64.8% during the first quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company’s stock worth $980,000 after acquiring an additional 10,373 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Barnes Group in the first quarter valued at approximately $253,000. Texas Permanent School Fund Corp increased its stake in shares of Barnes Group by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 44,350 shares of the industrial products company’s stock valued at $1,648,000 after purchasing an additional 574 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Barnes Group in the first quarter valued at approximately $208,000. 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.