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Strength Seen in Barnes Group (B): Can Its 7.6% Jump Turn into More Strength?

Zacks Equity Research
·2-min read

Barnes Group B shares ended the last trading session 7.6% higher at $41.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.1% loss over the past four weeks.

Barnes’ rally is largely driven by optimism regarding its strong momentum in the Aerospace segment, driven by strength in the OEM business. Also, the company’s investments in product development, new technologies and manufacturing processes bode well.

This aerospace and industrial parts supplier is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -32.8%. Revenues are expected to be $398.29 million, up 17.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Barnes Group, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on B going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Barnes Group is part of the Zacks Manufacturing - General Industrial industry. Middleby (MIDD), another stock in the same industry, closed the last trading session 0.5% lower at $122.87. MIDD has returned 0.3% in the past month.

Middleby's consensus EPS estimate for the upcoming report has changed -2.3% over the past month to $2.28. Compared to the company's year-ago EPS, this represents a change of -7.7%. Middleby currently boasts a Zacks Rank of #5 (Strong Sell).

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Barnes Group, Inc. (B) : Free Stock Analysis Report

The Middleby Corporation (MIDD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research