StockNews.com Initiates Coverage on Barnes Group (NYSE:B)

Investment analysts at StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a report issued on Thursday. The brokerage set a “sell” rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on B. Truist Financial lifted their price objective on 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 reiterated a “neutral” rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Price Performance

Shares of B stock opened at $47.04 on Thursday. The firm’s 50 day moving average price is $46.58 and its two-hundred day moving average price is $41.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. Barnes Group has a 52-week low of $28.39 and a 52-week high of $47.40. The stock has a market cap of $2.40 billion, a PE ratio of -61.09 and a beta of 1.34.

Institutional Investors Weigh In On Barnes Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares during the last quarter. SG Americas Securities LLC bought a new position in Barnes Group in the third quarter valued at $178,000. Centiva Capital LP bought a new position in Barnes Group in the third quarter valued at $212,000. Captrust Financial Advisors bought a new stake in Barnes Group during the 3rd quarter worth about $224,000. Finally, Needham Investment Management LLC acquired a new position in shares of Barnes Group during the 3rd quarter worth about $242,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Company Profile

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.