FY2024 EPS Estimates for Barnes Group Cut by DA Davidson

Barnes Group Inc. (NYSE:B) – Investment analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Barnes Group in a 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 forecast of $1.60. DA Davidson currently 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.

A number of other equities research analysts have also weighed in on the stock. Truist Financial upped their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. StockNews.com initiated coverage on shares of Barnes Group in a report on Friday, October 25th. They issued a “sell” rating on the stock.

Barnes Group Trading Down 0.0 %

B opened at $46.76 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. Barnes Group has a fifty-two week low of $19.74 and a fifty-two week high of $47.12. The firm has a market capitalization of $2.37 billion, a PE ratio of -60.73, a P/E/G ratio of 2.87 and a beta of 1.38. The company’s 50-day moving average is $41.65 and its 200 day moving average is $39.91.

Institutional Investors Weigh In On Barnes Group

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Barnes Group during the 1st quarter valued at approximately $107,000. SG Americas Securities LLC bought a new position in shares of Barnes Group during the 3rd quarter valued at approximately $178,000. QRG Capital Management Inc. bought a new position in shares of Barnes Group during the 1st quarter valued at approximately $217,000. Finally, Intech Investment Management LLC bought a new position in shares of Barnes Group during the 2nd quarter valued at approximately $277,000. 90.82% of the stock is owned by institutional investors.

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.