Jefferies Maintains Barnes Group to Buy with Price Target $44.00

Brokerage firm Jefferies Maintains its rating on Barnes Group(NYSE:B). In a research note issued to the investors, the brokerage major Raises the price-target to $44.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Aug 1, 2016.

Barnes Group (B) shares turned negative on Mondays trading session with the shares closing down -0.12 points or -0.30% at a volume of 1,95,065. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $40.29. The peak price level was also seen at $40.29 while the days lowest was $39.91. Finally the shares closed at $39.93. The 52-week high of the shares is $41.78 while the 52-week low is $30.065. According to the latest information available, the market cap of the company is $2,150 M.

Barnes Group has also declared a cash dividend of $0.1300 on Jul 14, 2016. The shares will quote ex-dividend on Aug 23, 2016 and the record date has been fixed on Aug 25, 2016. The dividend payable date has been fixed on Sep 9, 2016.

Barnes Group(B) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $306.69M. Analysts had an estimated revenue of $308.71M. Earnings per share were $0.63. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Thomas O Barnes (director) sold 350 shares at $33.15 per share price.Also, On May 25, 2016, Hassell H Mcclellan (director) sold 4,400 shares at $32.98 per share price.On Nov 30, 2015, Marian Acker (VP, Controller) sold 2,621 shares at $38.39 per share price, according to the Form-4 filing with the securities and exchange commission.

Barnes Group Inc. is an industrial and aerospace manufacturer and service provider serving a range of end-markets and customers. The Company’s engineered products industrial technologies and solutions delivered are used in applications that provide transportation manufacturing healthcare products and technology to the world. The Company operates in segments: Industrial and Aerospace. The Industrial segment is a manufacturer of engineered precision parts products and systems for critical applications. It is a manufacturer and supplier of precision mechanical products including mechanical springs and nitrogen gas products. The Aerospace segment is a provider of precision-machined and fabricated components and assemblies for OEM turbine engine airframe and industrial gas turbine builders and the military. Aerospace provides jet engine component overhaul and repair services for turbine engine manufacturers commercial airlines and the military.

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