DA Davidson analyst Matt Summerville raised his price target on Barnes Group to $67 after its Q2 earnings beat and operating margin improvement. The analyst notes better performance of the Aerospace segment and its higher than expected aftermarket demand, adding that the raise in the company's FY18 EPS view was driven in part by operational upside and record backlog. Summerville also keeps his Neutral rating on Barnes Group, stating that the organic comps in the Industrial segment remain challenging.

Reports Q1 revenue $431M, consensus $427.89M. "Barnes continues to advance our business transformation strategy with solid first-quarter results, additional long-term Aerospace agreements benefiting from our MB Aerospace acquisition, and the completed sale of the Associated Spring and Hanggi businesses in April," said Thomas J. Hook, President and CEO of Barnes. "Following the divestiture, an increasing majority of our earnings are driven by Aerospace, where we are investing to take full advantage of strong demand and attractive growth opportunities. And we continue to integrate, consolidate, and rationalize our Industrial business to further optimize our portfolio for long-term profitable growth. Our comprehensive strategic review is ongoing, and we remain committed to reshaping and positioning Barnes to maximize value for our shareholders. We look forward to sharing our ongoing progress."