Barnes Gr (NYSE:B) Stock, Quote.Headers.trade-ideas

Barnes Gr

Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. It leverages world-class manufacturing capabilities and engineering to develop various processes, automation solutions, and applied technologies for industries ranging from aerospace and medical & personal care to mobility and packaging. The company operates through two segments: Industrial and Aerospace. The industrial segment manufactures precision parts, products, and systems for critical applications in end markets including transportation, industrial equipment, and consumer products. The aerospace segment provides machined components and assemblies for original equipment manufacturer turbine engine, airframe and industrial gas turbine builders, and the military.

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BOIL

Mag 7&#39;s AI Boom Will Supercharge Natural Gas Sector As Power Demands Become Insatiable: Analyst

merger, acquistion, business combination, deal

Earnings

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Barnes Group reported 3Q24 sales increase of 7% to $388M, beating consensus. Aerospace sales surged 49%, backlog up 19%. To be acquired by Apollo Global for $3.6B.

Barnes Group Q3 Earnings: Aerospace Sales Jump 49%, Suspends Guidance Due To Buyout By Apollo

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Barnes Group (B) shares up on Apollo Global (APO) acquisition for $3.6 billion in cash, 28% premium over 90-day VWAP, expected to close Q1 2025. 

Barnes To Go Private In $3.6B Acquisition Deal With Apollo

Barnes Group Inc

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S&amp;P 500 constituent Apollo Global Management is acquiring Barnes Group in a deal expected to be completed soon pending final conditions.&nbsp;

ARWR

Arrowhead Pharmaceuticals To Replace  Barnes Group In S&P SmallCap 600, Effective Prior To Opening Of Trading On January 27

Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) ("Barnes" or "the Company"), a global provider of highly engineered products, differentiated industrial technologies and innovative solutions, today announced that its shareholders voted to approve the Company's previously announced acquisition by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) ("Apollo") (the "Apollo Funds") at the Company's Special Meeting of Shareholders (the "Special Meeting"). Under the terms of the merger agreement, subject to the completion of the transaction, Barnes stockholders will receive $47.50 per share in cash for every share of Barnes common stock they own immediately prior to the effective time of the merger.
Approximately 99% of the total shares voted at the Special Meeting were voted in favor of the transaction, which represented approximately 80% of the total outstanding shares of Barnes common stock as of December 6, 2024, the record date for the Special Meeting.

Reported Earlier, Barnes Group Shareholders Approve $47.50 Per Share Acquisition by Apollo Global Management

As <a href="https://www.benzinga.com/topic/magnificent-seven">the Magnificent Seven</a> races to dominate artificial intelligence (AI), their power demands are pushing <a href="https://www.benzinga.com/topic/natural-gas">natural gas into the spotlight</a>.
According to JPMorgan analyst Arun Jayaram, power demands could add 1.9 Bcf/d to U.S. natural gas consumption by 2028.
<h2 class="wp-block-heading">AI, Electrification Light Up The Grid</h2>
From powering data centers to meeting the electrification needs of a tech-driven economy, natural gas is becoming indispensable. 
Meta Platforms Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) $10 billion data center campus in Louisiana, for example, is tied to a proposed 1.5 GW natural gas plant. Renewables are part of the mix, too. But the availability and affordability of natural gas are making it a critical piece of the energy puzzle.
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/12/42305868/whats-going-on-with-magnificent-7-stocks">What&#8217;s Going On With Magnificent 7 Stocks?</a>
<h2 class="wp-block-heading">The LNG Boom: Full Speed Ahead</h2>
Liquefied natural gas (LNG) is also seeing explosive growth. U.S. LNG export capacity, now at ~14 Bcf/d, is set to hit ~22 Bcf/d by 2026 and could soar to ~26 Bcf/d by 2030. 
This bodes as good news for investors in the United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) and the ProShares Ultra Bloomberg Natural Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>).
Key projects like Port Arthur and Rio Grande are driving this expansion. There&#8217;s even more upside possible if a Trump administration lifts permitting barriers. The global appetite for LNG, fueled by geopolitical shifts and the energy transition, ensures a robust runway for U.S. exports.
<h2 class="wp-block-heading">Mag-7's Capex Frenzy Powers The Surge</h2>
The Mag 7 are pumping unprecedented capital into AI, with more than $500 billion in capex and R&amp;D projected over the next year. This spendathon is reshaping industries, and natural gas is riding the wave.
The U.S. saw an 88% year-over-year surge in gas turbine orders, driven by soaring electricity demand. Jayaram notes this AI-fueled capex boom rivals the U.S. defense budget in scale, signaling massive systemic change but also raising concerns about overinvestment.
As AI transforms the economy, natural gas is cementing its role as a cornerstone of the energy landscape. Whether it's powering data centers, fueling LNG exports, or keeping the lights on in an electrified world, natural gas is poised to ride this tech-driven tidal wave.
Read Next: 
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Image: Shutterstock

Mag 7's AI Boom Will Supercharge Natural Gas Sector As Power Demands Become Insatiable: Analyst

Barnes Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) reported a third-quarter FY24 sales increase of 7% year-over-year to $388 million (organic sales: +4%), <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41540364/barnes-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">beating the consensus of $380.3 million</a>.
The net impact of acquisition and divestiture-related sales contributed about 3% to revenue, while foreign exchange fluctuations added approximately 1%.
In Aerospace segment, sales surged 49% to $232 million. Original equipment manufacturing (OEM) sales rose by 38%, and aftermarket sales surged by 67%.
Aerospace OEM backlog ended the third quarter at $1.80 billion, up 19% sequentially.
In the Industrial segment, sales stood at $156 million, down 24% due to the sale of the Associated Spring and Hänggi businesses.&nbsp;
Total adjusted operating income rose 23% to $47.9 million, with adjusted operating margin increasing 150 bps to 12.3%.
Adjusted EBITDA increased 16% to $76.9 million, with an adjusted EBITDA margin of 19.8%, up 140 bps from a year ago.
Adjusted EPS of&nbsp;$0.09&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus of $0.39</a>.
Year-to-date, operating cash flow stood at $49.8 million and free cash flow (adjusted for the tax payments related to the divestiture) came in at $20.4 million.
Thomas J. Hook, President and Chief Executive Officer, said, &#8220;In the third quarter, despite ongoing production delays from aircraft manufacturers, our Aerospace OEM business generated extraordinarily strong orders in anticipation of a future industry re-ramp. Meanwhile, our Aerospace aftermarket business continues to deliver robust performance on strong top-line growth.&#8221;
&#8221;With the MB Aerospace integration and synergies progressing ahead of plan, we are delivering on our strategy to scale Aerospace and transform Barnes.&#8221;
This month, Barnes inked a deal to be acquired by funds managed by affiliates of&nbsp;Apollo Global Management, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) in an all-cash&nbsp;transaction <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41210983/barnes-to-go-private-in-3-6b-acquisition-deal-with-apollo" rel="noreferrer noopener">valued at around&nbsp;$3.6 billion</a>.
The agreement stipulates that Barnes shareholders will receive $47.50 per share in cash, representing a premium of about 22% over the undisturbed closing share price on June 25, 2024.
Given the pending acquisition, the company will not hold a conference call or webcast for the quarter and is also suspending its full-year 2024 financial guidance.
Price Action: B shares closed higher by 0.06% at $46.70 on Thursday.
Photo: Courtesy of Pasuwan via Shutterstock
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Given the pending acquisition of Barnes by Apollo Funds, the Company will not be conducting a third quarter 2024 conference call and webcast. In addition, Barnes is suspending its financial guidance for the full year 2024.

Barnes Cancels Q3 Earnings Call And Suspends Guidance Pending Acquisition By Apollo Funds

Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) reported quarterly earnings of $0.09 per share which missed the analyst consensus estimate of $0.39 by 76.92 percent. This is a 52.63 percent decrease over earnings of $0.19 per share from the same period last year. The company reported quarterly sales of $387.790 million which beat the analyst consensus estimate of $380.315 million by 1.97 percent. This is a 7.42 percent increase over sales of $360.988 million the same period last year.

Earnings Beats

Earnings Misses

Barnes Gr Q3 2024 Adj. EPS $0.09 Misses $0.39 Estimate, Sales $387.790M Beat $380.315M Estimate

Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) is gearing up to announce its quarterly earnings on Friday, 2024-10-25. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Barnes Gr will report an earnings per share (EPS) of $0.39.
Investors in Barnes Gr are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS missed by $0.03, leading to a 0.0% drop in the share price on the subsequent day.
Here's a look at Barnes Gr's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.40</td>
<td>0.36</td>
<td>0.35</td>
<td>0.48</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.37</td>
<td>0.38</td>
<td>0.41</td>
<td>0.19</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-4.0%</td>
<td>-0.0%</td>
<td>-33.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729782071_0_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Barnes Gr were trading at $46.67 as of October 23. Over the last 52-week period, shares are up 131.98%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on Barnes Gr</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Barnes Gr.
Analysts have provided Barnes Gr with 4 ratings, resulting in a consensus rating of Neutral. The average one-year price target stands at $46.25, suggesting a potential 0.9% downside.
<h3>Understanding Analyst Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Albany Intl, Hillman Solns and Standex International, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>For Albany Intl, analysts project an Buy trajectory, with an average 1-year price target of $86.0, indicating a potential 84.27% upside.</li>
<li>Analysts currently favor an Buy trajectory for Hillman Solns, with an average 1-year price target of $12.25, suggesting a potential 73.75% downside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Standex International, with an average 1-year price target of $210.33, indicating a potential 350.67% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
In the peer analysis summary, key metrics for Albany Intl, Hillman Solns and Standex International are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Barnes Gr</td>
<td>Neutral</td>
<td>12.76%</td>
<td>$124.04M</td>
<td>-3.59%</td>
</tr>
<tr>
<td>Albany Intl</td>
<td>Buy</td>
<td>21.11%</td>
<td>$112.38M</td>
<td>2.55%</td>
</tr>
<tr>
<td>Hillman Solns</td>
<td>Buy</td>
<td>-0.15%</td>
<td>$184.76M</td>
<td>1.07%</td>
</tr>
<tr>
<td>Standex International</td>
<td>Buy</td>
<td>-4.32%</td>
<td>$69.41M</td>
<td>3.16%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Barnes Gr ranks at the bottom for Revenue Growth among its peers. It also has the lowest Gross Profit margin. However, it has the highest Return on Equity compared to its peers.
<h3>Delving into Barnes Gr's Background</h3>
Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. It leverages world-class manufacturing capabilities and engineering to develop various processes, automation solutions, and applied technologies for industries ranging from aerospace and medical &amp; personal care to mobility and packaging. The company operates through two segments: Industrial and Aerospace. The industrial segment manufactures precision parts, products, and systems for critical applications in end markets including transportation, industrial equipment, and consumer products. The aerospace segment provides machined components and assemblies for original equipment manufacturer turbine engine, airframe and industrial gas turbine builders, and the military.
<h3>Breaking Down Barnes Gr's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Barnes Gr displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 12.76%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.
Net Margin: Barnes Gr's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -12.25%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Barnes Gr's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -3.59%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.48%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.91, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/B/earnings">To track all earnings releases for Barnes Gr visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Barnes Gr

In the preceding three months, 4 analysts have released ratings for Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), presenting a wide array of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $46.25, a high estimate of $52.00, and a low estimate of $38.00. This upward trend is apparent, with the current average reflecting a 7.56% increase from the previous average price target of $43.00.
<img src="https://www.benzinga.com/files/images/story/2024/1728399622_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Barnes Gr among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Ciarmoli</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$47.50</td>
<td>$38.00</td>
</tr>
<tr>
<td>Matt Summerville</td>
<td>DA Davidson</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$47.50</td>
<td>$52.00</td>
</tr>
<tr>
<td>Michael Ciarmoli</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$38.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Matt Summerville</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$52.00</td>
<td>$48.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Barnes Gr. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Barnes Gr compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Barnes Gr's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Barnes Gr's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/B/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Barnes Gr analyst ratings.</a>
<h2>Unveiling the Story Behind Barnes Gr</h2>
Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. It leverages world-class manufacturing capabilities and engineering to develop various processes, automation solutions, and applied technologies for industries ranging from aerospace and medical &amp; personal care to mobility and packaging. The company operates through two segments: Industrial and Aerospace. The industrial segment manufactures precision parts, products, and systems for critical applications in end markets including transportation, industrial equipment, and consumer products. The aerospace segment provides machined components and assemblies for original equipment manufacturer turbine engine, airframe and industrial gas turbine builders, and the military.
<h3>Barnes Gr: A Financial Overview</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Barnes Gr's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 12.76% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.
Net Margin: Barnes Gr's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -12.25%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -3.59%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Barnes Gr's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -1.48%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Barnes Gr's debt-to-equity ratio stands notably higher than the industry average, reaching 0.91. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: Simplified</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Breaking Down Barnes Gr: 4 Analysts Share Their Views

Truist Securities analyst Michael Ciarmoli maintains Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) with a Hold and raises the price target from $38 to $47.5.

Price Target

Truist Securities Maintains Hold on Barnes Gr, Raises Price Target to $47.5

Barnes Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) shares are trading higher after the company inked a deal to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) in an all-cash <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41203290/barnes-group-to-be-acquired-by-apollo-funds-for-3-6-billion" rel="noreferrer noopener">transaction valued at around $3.6 billion</a>.
The agreement stipulates that Barnes shareholders will receive $47.50 per share in cash, representing a premium of about 22% over the undisturbed closing share price on June 25, 2024.
Additionally, this price is approximately 28% higher than the volume-weighted average price (VWAP) of Barnes common stock for the 90 days ending June 25, 2024.
The transaction is expected to close by the end of Q1 2025, subject to customary conditions, including shareholder approval and necessary regulatory clearances.
Post closure, Barnes will be delisted from the New York Stock Exchange and operate as a privately held company under the Barnes Group name and brand.
Thomas J. Hook, President and Chief Executive Officer of Barnes, said, &#8220;Apollo has a 35-year track record of investing in companies like Barnes that have leading businesses, strong teams and solid performance, and helping to position them for long-term, sustainable growth. Under Apollo Funds ownership, we aim to accelerate our transformation, enhance our capabilities, broaden our product offerings and create new opportunities for growth and innovation.&#8221;
Antoine Munfakh, Partner at Apollo stated, &#8220;We see opportunities to further invest in and grow Barnes&#8217; businesses, which are positioned to benefit from long-term aerospace demand trends, as well as the need for high performance components and solutions for a range of end-markets.&#8221;
Barnes plans to release its third-quarter earnings on October 25, 2024, before the market opens, but due to this pending transaction, it will not <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">hold a conference call or webcast</a>.
Additionally, the company is suspending its financial <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">guidance for the full year 2024</a>.
As of June 30, Apollo&#8217;s cash and cash equivalent <a target="_blank" href="https://ir.apollo.com/sec-filings/content/0001858681-24-000096/0001858681-24-000096.pdf" rel="noreferrer noopener">stood </a>at $2.85 billion.
Price Action: B shares are up 2.62% at $46.45 at the last check Monday.
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Photo via Shutterstock

DA Davidson analyst Matt Summerville downgrades Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) from Buy to Neutral and lowers the price target from $52 to $47.5.

Downgrades

DA Davidson Downgrades Barnes Gr to Neutral, Lowers Price Target to $47.5

Barnes Group Agrees To Be Acquired By Apollo Funds For $3.6B; Barnes Shareholders To Receive $47.50 Per Share In Cash

U.S. stocks were higher, with the Dow Jones index gaining more than 50 points on Friday.
Shares of Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) rose sharply during Friday's session after the company reported better-than-expected second-quarter financial results and raised its FY25 adjusted EPS<a href="https://www.benzinga.com/news/earnings/24/10/41182821/architectural-services-company-apogee-smashes-q2-expectations-hikes-fy25-eps-outlook-despite-revenu"> guidance above estimates</a>.
Apogee Enterprises reported second-quarter sales of $342.4 million, beating the consensus estimate of $335.3 million. Adjusted EPS rose 5.9% Y/Y to $1.44, beating the consensus of $1.23.
Apogee Enterprises shares jumped 20.7% to $82.56 on Friday.
Here are some other big stocks recording gains in today's session.
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<li>Frontier Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>) gained 20.6% to $6.02 following a report suggesting Spirit Airlines is considering filing for bankruptcy. The company, a budget airline, may see a rise in passengers due to a drop in competition.</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) surged 15% to $7.34 following a report suggesting Sprint Airlines is considering filing for bankruptcy. Earlier this year, a judge blocked a merger between the two companies because it could hurt competition and hike ticket prices.</li>
<li>LexinFintech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) surged 12.5% to $3.8250.</li>
<li>Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>) gained 11.8% to $19.08 after the company announced it will present its long-term data from the HOPE-2 open-label extension study at the 2024 World Muscle Society Congress.</li>
<li>Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) rose 10.5% to $3.0950.</li>
<li>Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) gained 10.3% to $44.22 following a report suggesting that Apollo Global Management is in talks to acquire the company.</li>
<li>JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>) shares rose 10.3% to $28.84.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) gained 7.2% to $20.33 after Citigroup initiated coverage on the stock with a Buy rating and announced a price target of $26.8.</li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) gained 6.6% to $20.81.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) climbed 6% to $142.21.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained 5.1% to $58.48.</li>
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Intraday Update

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Apogee Enterprises Posts Upbeat Earnings, Joins Frontier Group, JetBlue Airways And Other Big Stocks Moving Higher On Friday

WIIM

Barnes Group shares are trading higher following a report suggesting that Apollo Global Management is in talks to acquire the company.

<a href="https://www.reuters.com/markets/deals/apollo-global-talks-buy-aerospace-parts-maker-barnes-group-sources-say-2024-10-03/">https://www.reuters.com/markets/deals/apollo-global-talks-buy-aerospace-parts-maker-barnes-group-sources-say-2024-10-03/</a>
&nbsp;
Private equity firm Apollo Global Management &nbsp;is in talks to acquire Barnes Group, a manufacturer of aerospace components with a market value of about $2 billion, people familiar with the matter said on Thursday.
Bristol, Connecticut-based Barnes is negotiating granting exclusivity to Apollo, which is set to prevail over other buyout firms that were also vying for the company, the sources said, requesting anonymity as the discussions are confidential.
The deal is likely to value Barnes at more than $45 per share, one of the sources said. The company's shares, which have risen about 25% since the start of the year, closed at about $40 apiece on Thursday.
If the talks are successful, a deal could be signed in the coming weeks, the sources said, cautioning a transaction is not guaranteed and another suitor could emerge if the talks with Apollo fall apart.
The company did not immediately respond to requests for comment. Apollo declined to comment.
Founded in 1857, Barnes is a maker of components for companies in sectors such as packaging, healthcare, aerospace, consumer, and electronics. Barnes' aerospace unit makes parts for commercial and military turbine engines, while its industrials unit develops molding and automation solutions for various industries.
Barnes has about 5,700 employees and operates 43 manufacturing locations, according to its website.
In the quarter ended June 30, Barnes reported a net loss of $46.8 million and revenue growth of 12% to $382.2 million, which fell short of analysts' expectations.
Activist investor Irenic Capital took a stake in Barnes in 2022 and pushed the company to shake up its board and explore a strategic review. In March, Barnes entered into a cooperation agreement with Irenic and appointed its co-founder Adam Katz to its board of directors.
&nbsp;
Apollo has been an active acquirer of companies in the industrials sector in recent years. Last year, Apollo struck an $8.1 billion deal to acquire chemical company Univar Solutions. It also agreed to buy industrial components maker Arconic for about $3 billion last year.
Bloomberg reported in June that Barnes was exploring strategic options including a sale.

Reported October 3, 2024 'Apollo Global In Talks To Buy Aerospace Parts Maker Barnes Group, Sources Say' - Reuters News

A month has gone by since the last earnings report for Flowserve (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>). Shares have lost about 0.2% in that time frame, underperforming the S&amp;P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Flowserve due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
<h3>Flowserve Q2 Earnings &amp; Revenues Top Estimates, Rise Y/Y</h3>
Flowserve&#39;s second-quarter 2024 adjusted earnings (excluding 18 cents from non-recurring items) of 73 cents per share beat the Zacks Consensus Estimate of 63 cents. The bottom line increased 40.4% year over year. Results primarily benefited from higher revenues, partially offset by an increase in operating costs and expenses.
Flowserve&#39;s total revenues of $1.16 billion beat the consensus estimate of $1.12 billion. The top line increased 7.1% year over year. Sales increased 7.7% on a constant-currency basis.
Aftermarket sales increased 5% year over year (up 5.8% on a constant-currency basis) to $590.5 million. Original equipment sales totaled $566.4 million, reflecting an increase of 9.4% year over year (up 9.8% on a constant-currency basis).
Total bookings amounted to $1.25 billion, reflecting an increase of 12.2% (up 13% on a constant-currency basis) year over year. The backlog at the end of the quarter was $2.7 billion, up 2.8% sequentially.
<h3>Segmental Details</h3>
Flowserve currently has two reportable segments, Flowserve Pump Division and Flow Control Division. A brief discussion of the segments is provided below:
Revenues from the Flowserve Pump Division segment were $812.2 million, up 6.1% year over year. Bookings increased 18.3% year over year to $898.8 million. Segmental operating income was $131 million, up 33.7% year over year.
Revenues from the Flow Control Division segment were $347.7 million, up 9.4% year over year. Bookings of $349.2 million decreased 2.9% on a year-over-year basis. The segment&#39;s operating income was $32.3 million, down 10.5% year over year.
<h3>Margin Profile</h3>
In the second quarter, Flowserve&#39;s cost of sales increased 4.4% year over year to $790.8 million. Gross profit increased 13.4% year over year to $366.1 million and the margin increased 170 basis points (bps) to 31.6%. Selling, general and administrative expenses were $238.6 million, up 3.7% year over year.
Operating income increased 25.5% year over year to $121.3 million. The adjusted operating margin was 12.5%, up 210 bps year over year. The effective tax rate was 23.8%.
<h3>Balance Sheet and Cash Flow</h3>
Exiting the second quarter, Flowserve had cash and cash equivalents of $515.1 million compared with $545.7 million at the end of December 2023. Long-term debt (due after one year) was $1.21 billion compared with $1.17 billion at the end of December 2023.
In the first six months of 2024, the company generated net cash of $49.5 million from operating activities compared with $50.4 million in the year-ago period. Capital expenditure totaled $28.3 million, down 11.3% year over year.
During the same period, the company used $55.3 million for distributing dividends.
<h3>2024 Guidance</h3>
Flowserve continues to expect a 4-6% increase in revenues from the year-ago levels. The company anticipates earnings per share (on a reported basis) to be between $2.25 and $2.45. Adjusted earnings per share are now estimated in the $2.60&ndash;$2.75 band, higher than the earlier guidance of $2.50-$2.70. The Zacks Consensus Estimate for adjusted earnings is pegged at $2.68 per share.
The adjusted tax rate is projected to be approximately 21%. The company forecasts net interest expense and capital expenditure to be in the range of $60-$65 million and $75-$85 million, respectively.
<h2>How Have Estimates Been Moving Since Then?</h2>
In the past month, investors have witnessed a downward trend in estimates review.
<h2>VGM Scores</h2>
Currently, Flowserve has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, Flowserve has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
<h2>Performance of an Industry Player</h2>
Flowserve is part of the Zacks Manufacturing - General Industrial industry. Over the past month, Barnes Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/b#NYSE">B</a>), a stock from the same industry, has gained 0.4%. The company reported its results for the quarter ended June 2024 more than a month ago.
Barnes Group reported revenues of $382.23 million in the last reported quarter, representing a year-over-year change of +12.8%. EPS of $0.37 for the same period compares with $0.58 a year ago.
Barnes Group is expected to post earnings of $0.39 per share for the current quarter, representing a year-over-year change of +105.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -3.3%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #5 (Strong Sell) for Barnes Group. Also, the stock has a VGM Score of F.
<a href="https://www.zacks.com/stock/news/2328389/flowserve-fls-down-0-2-since-last-earnings-report-can-it-rebound?cid=CS-BENZ-FT-realtime_blog-2328389">To read this article on Zacks.com click here.</a>

Dividends

Trading Ideas

Flowserve Down 0.2% Since Last Earnings Report: Can It Rebound?

Contracts

Barnes Aerospace Announces Long-Term Agreement With MTU Aero Engines AG For $33M

4 analysts have shared their evaluations of Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Barnes Gr, presenting an average target of $46.5, a high estimate of $52.00, and a low estimate of $38.00. This current average has increased by 9.41% from the previous average price target of $42.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1722272460_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
A clear picture of Barnes Gr's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Ciarmoli</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$38.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Matt Summerville</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$52.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Christopher Glynn</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$48.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Matt Summerville</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$48.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Barnes Gr. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Barnes Gr compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Capture valuable insights into Barnes Gr's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/B/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Barnes Gr analyst ratings.</a>
<h2>Get to Know Barnes Gr Better</h2>
Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. It leverages world-class manufacturing capabilities and engineering to develop various processes, automation solutions, and applied technologies for industries ranging from aerospace and medical &amp; personal care to mobility and packaging. The company operates through two segments: Industrial and Aerospace. The industrial segment manufactures precision parts, products, and systems for critical applications in end markets including transportation, industrial equipment, and consumer products. The aerospace segment provides machined components and assemblies for original equipment manufacturer turbine engine, airframe and industrial gas turbine builders, and the military.
<h3>Barnes Gr: Delving into Financials</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Barnes Gr displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 28.41%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Barnes Gr's net margin is impressive, surpassing industry averages. With a net margin of 0.45%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Barnes Gr's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 0.14%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Barnes Gr's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.06%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 0.99, Barnes Gr faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cracking The Code: Understanding Analyst Reviews For Barnes Gr

Truist Securities analyst Michael Ciarmoli maintains Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) with a Hold and raises the price target from $34 to $38.

Truist Securities Maintains Hold on Barnes Gr, Raises Price Target to $38

DA Davidson analyst Matt Summerville maintains Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) with a Buy and raises the price target from $48 to $52.

DA Davidson Maintains Buy on Barnes Gr, Raises Price Target to $52

Press Releases

BRKH, ARCH, B URGENT: The M&A Class Action Firm Encourages $hareholders to Act Before the Vote

BRKH, ARCH, B URGENT: The M&A Class Action Firm Encourages Shareholders to Act Before the Vote

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates B, FLIC, RVNC on Behalf of Shareholders

$TOCKHOLDER ALERT: The M&A Class Action Firm Encourages Shareholders of PFIE, PSTX, ARCH, B to Take Action

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates B, PSTX, AE, PFIE on Behalf of Shareholders

BARNES GROUP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Barnes Group Inc. - B

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