DA Davidson Initiates Coverage on B&G Foods (NYSE:B). What May be Next?


Why Has DA Davidson Given B&G Foods (NYSE:B) a $39.0 Price Target

DA Davidson analyst began issuing coverage with a “Neutral” rating on B&G Foods (NYSE:B) today and set a price target of $39.0. The firm’s shares opened today at 36.23.

From a total of 7 analysts covering Barnes Group (NYSE:B) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $49 while the lowest target price is $40. The mean of all analyst targets is $43 with a 26.97% above today’s ($36.23) stock price. Barnes Group was the topic of 5 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Oppenheimer maintained shares on October 26 with “Outperform” rating.

The stock closed the day at $36.23 during the previous session. It is down 9.02% since May 8, 2015 and is downtrending. It has underperformed by 6.00% the S&P500.

The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.71, from 1.67 in 2015Q2. The ratio is negative, as 27 institutions have sold all the shares of Barnes Group Inc. that they owned while 65 funds have taken shares off the table. 17 funds have purchased shares for the first time while 71 added to their positions. These institutions now hold 55.95 million shares or 19.92% more than the 46.66 million shares they owned in 2015Q2.

The Fund Wooster Corthell Wealth Management Inc. currently is holding shares equating to 3.25% of its total portfolio in Barnes Group Inc. representing a total of 120,241 shares. Another fund,Fiduciary Management Associates Llc, is holding a total of 653,252 shares equating to 1.53% of their holdings. Additionally, Dreman Value Management L L C has a 374,010 share stake in Barnes Group Inc. which represents 1.36% of their total portfolio. The Fund, Tributary Capital Management Llc, based out of Colorado, has also built up a stake in the stock, which represents a total of 1.29% of their total portfolio. Finally Eagle Boston Investment Management Inc, a fund which is based in the state of Massachusetts reported a total holdings of 260,348 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 29, 2015, shareholders of Barnes Group Inc. have witnessed 0 insider purchases, and a total of 3 insider sales equating to a net activity of approximately $313,069 . Barnes Thomas O sold 553 shares worth approximately $21,715. Mangum Mylle H sold 2,500 shares worth approximately $95,850. Edwards Dawn N sold 10,833 shares worth approximately $436,542.

Barnes Group Inc. is an industrial and aerospace maker and service provider, serving a range of end-markets and customers. The company has a market cap of $1.99 billion. 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. It has 15.47 P/E ratio. The Firm operates in divisions: Industrial and Aerospace.

According to Zacks Investment Research, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers.” Get a free copy of the Zacks research report on Barnes Group Inc. (B).