Barnes Group (NYSE:B) Earns Sell Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. Truist Financial boosted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. DA Davidson restated a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Stock Performance

Shares of B opened at $46.56 on Thursday. The company’s 50 day moving average price is $39.90 and its 200 day moving average price is $39.14. Barnes Group has a 52 week low of $18.79 and a 52 week high of $46.72. The company has a market capitalization of $2.36 billion, a PE ratio of 517.33, a PEG ratio of 2.87 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24.

Barnes Group (NYSE:B) last posted its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $382.23 million during the quarter, compared to analyst estimates of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Research analysts expect that Barnes Group will post 1.62 EPS for the current fiscal year.

Institutional Trading of Barnes Group

A number of hedge funds have recently bought and sold shares of B. GAMMA Investing LLC lifted its holdings in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares during the period. EntryPoint Capital LLC bought a new position in shares of Barnes Group during the 1st quarter worth about $107,000. SG Americas Securities LLC bought a new position in shares of Barnes Group during the 3rd quarter worth about $178,000. QRG Capital Management Inc. bought a new position in shares of Barnes Group during the 1st quarter worth about $217,000. Finally, Intech Investment Management LLC bought a new position in shares of Barnes Group during the 2nd quarter worth about $277,000. 90.82% of the stock is owned by institutional investors.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.