Oppenheimer Assigns Perform On Barnes Group Shares
In a research report issued Friday, Oppenheimer analyst Christopher Glynn assigned a Perform rating on Barnes Group (NYSE:B). No price target was provided.
Glynn observed, “Margins in 3Q were robust, benefiting from volume leverage and productivity, and strong mix at Industrial. Improved contribution from Aero AM revenue in time offers prospects for stronger boosts to Aero profitability. At Industrial, B’s high margin businesses (Synventive, Manner, NGS, Raymond) all hit on a strong quarter, likely providing some serendipitous upward push on OM. Mix was strong within Manner, and B will likely layer in some global growth investment. However, B capitalized well on the growth, and we expect higher margin businesses continue to have stronger growth prospects within Industrial. B announced $550K of content on the A350, a key win that mitigates potential declines in 777 production.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Glynn has a total average return of 14.1% and a 77.1% success rate. Glynn is ranked #202 out of 3347 analysts.