In a report released today, Christopher Glynn from Oppenheimer assigned a Buy rating to Barnes Group (B – Research Report), with a price target of $60.00. The company’s shares closed last Monday at $52.53.
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 17.4% and a 66.5% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.
Barnes Group has an analyst consensus of Moderate Buy, with a price target consensus of $55.00.
Based on Barnes Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $269 million and net profit of $15.36 million. In comparison, last year the company earned revenue of $373 million and had a net profit of $45.77 million.
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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.