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

Equities research analysts at StockNews.com began coverage on shares of Barnes Group (NYSE:BGet Free Report) in a report released on Friday. The brokerage set a “sell” rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the company. Truist Financial increased their price target on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th. DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Check Out Our Latest Report on B

Barnes Group Stock Performance

Shares of Barnes Group stock opened at $47.16 on Friday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -61.25 and a beta of 1.34. Barnes Group has a twelve month low of $29.67 and a twelve month high of $47.40. The company’s fifty day moving average is $46.82 and its 200 day moving average is $42.24. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On Barnes Group

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 31,000 shares during the period. Jane Street Group LLC raised its holdings in Barnes Group by 22.9% during the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after buying an additional 28,649 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Barnes Group by 9.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock valued at $22,148,000 after buying an additional 47,821 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Barnes Group during the second quarter valued at about $714,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Barnes Group during the third quarter worth about $432,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Company Profile

(Get Free Report)

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.

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