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Here's Why Barnes (B) Shares Rise More Than 25% in 6 Months
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Barnes Group Inc. (B - Free Report) shares have gained 25.1% in the past six months, outperforming the industry’s 14.5% increase.
Let’s look into the factors driving the company’s performance.
What’s Aiding Barnes?
The company is gaining from its focus on innovation, strategic marketing and commercial excellence and solid operational execution. Healthy aftermarket business, including maintenance, repair, and overhaul (MRO) and spare parts (RSP programs) sales growth is benefiting the Aerospace segment. Also, robust Original Equipment Manufacturing (OEM) order bodes well for the segment. B anticipates adjusted earnings of $2.10-$2.30 per share for 2023, reflecting an increase of 6-16% from the year-ago reported figure.
Barnes utilizes its cash flow to reward its shareholders through dividend payouts and share-repurchase programs. It paid out dividends worth $32.4 million to its shareholders in 2022. Also, while exiting the fourth quarter of 2022, the company was left to repurchase 3.4 million shares under its previously approved share buyback program. In 2021, Barnes paid out dividends worth $32.4 million to its shareholders and repurchased shares worth $5.2 million. The buybacks were made to neutralize the impact of equity compensation dilution.
Image Source: Zacks Investment Research
Barnes’ efforts to reduce debt levels bode well. Its cash and cash equivalents at the end of the fourth quarter were $76.9 million, higher than the current portion of long-term debt of $1.4 million. This implies that the company has sufficient cash to meet its short-term debt obligations.
Some top-ranked stocks from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank of 1. DE’s earnings surprise in the last four quarters was 4.7%, on average.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.4%. The stock has rallied 7.7% in the past six months.
Alamo Group Inc. (ALG - Free Report) presently sports a Zacks Rank of 1. ALG’s earnings surprise in the last four quarters was 6.0%, on average.
In the past 60 days, estimates for Alamo’s fiscal 2023 earnings have increased 7.5%. The stock has gained 29.6% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 3.2%, on average.
In the past 60 days, estimates for A. O. Smith’s 2023 earnings have increased 1.2%. The stock has gained 35.3% in the past six months.
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Here's Why Barnes (B) Shares Rise More Than 25% in 6 Months
Barnes Group Inc. (B - Free Report) shares have gained 25.1% in the past six months, outperforming the industry’s 14.5% increase.
Let’s look into the factors driving the company’s performance.
What’s Aiding Barnes?
The company is gaining from its focus on innovation, strategic marketing and commercial excellence and solid operational execution. Healthy aftermarket business, including maintenance, repair, and overhaul (MRO) and spare parts (RSP programs) sales growth is benefiting the Aerospace segment. Also, robust Original Equipment Manufacturing (OEM) order bodes well for the segment. B anticipates adjusted earnings of $2.10-$2.30 per share for 2023, reflecting an increase of 6-16% from the year-ago reported figure.
Barnes utilizes its cash flow to reward its shareholders through dividend payouts and share-repurchase programs. It paid out dividends worth $32.4 million to its shareholders in 2022. Also, while exiting the fourth quarter of 2022, the company was left to repurchase 3.4 million shares under its previously approved share buyback program. In 2021, Barnes paid out dividends worth $32.4 million to its shareholders and repurchased shares worth $5.2 million. The buybacks were made to neutralize the impact of equity compensation dilution.
Image Source: Zacks Investment Research
Barnes’ efforts to reduce debt levels bode well. Its cash and cash equivalents at the end of the fourth quarter were $76.9 million, higher than the current portion of long-term debt of $1.4 million. This implies that the company has sufficient cash to meet its short-term debt obligations.
Zacks Rank and Stocks to Consider
Barnes currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
Some top-ranked stocks from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank of 1. DE’s earnings surprise in the last four quarters was 4.7%, on average.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.4%. The stock has rallied 7.7% in the past six months.
Alamo Group Inc. (ALG - Free Report) presently sports a Zacks Rank of 1. ALG’s earnings surprise in the last four quarters was 6.0%, on average.
In the past 60 days, estimates for Alamo’s fiscal 2023 earnings have increased 7.5%. The stock has gained 29.6% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 3.2%, on average.
In the past 60 days, estimates for A. O. Smith’s 2023 earnings have increased 1.2%. The stock has gained 35.3% in the past six months.