Oppenheimer analyst Christopher Glynn maintained a Buy rating on Barnes Group (B) yesterday and set a price target of $50.00. The company’s shares closed last Tuesday at $39.73.
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 9.8% and a 61.5% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.
Currently, the analyst consensus on Barnes Group is a Moderate Buy with an average price target of $45.00.
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Based on Barnes Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $236 million and net profit of $567K. In comparison, last year the company earned revenue of $372 million and had a net profit of $37.62 million.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of B in relation to earlier this year. Most recently, in August 2020, Christopher Stephens, the SVP, Finance and CFO of B sold 36,000 shares for a total of $1,413,720.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Barnes Group, Inc. engages in the provision of engineered products, industrial technologies, and solutions, serving a wide range of end markets and customers. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions; force and motion control; and automation and engineered components business units. The Aerospace segment consists of original equipment manufacturing (OEM) business, maintenance repair and overhaul (MRO) services, and the manufacture and delivery of aerospace aftermarket spare parts. The company was founded by Wallace Barnes in 1857 and is headquartered in Bristol, CT.
