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

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

A number of other equities research analysts have also commented on B. DA Davidson reaffirmed 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. Truist Financial increased their price target on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Price Performance

Shares of B opened at $47.48 on Wednesday. The business has a 50-day moving average of $47.15 and a 200-day moving average of $43.72. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. Barnes Group has a 1 year low of $32.00 and a 1 year high of $47.50.

Institutional Investors Weigh In On Barnes Group

A number of large investors have recently bought and sold shares of B. GAMMA Investing LLC raised its position in shares of Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares during the period. KBC Group NV grew its position in Barnes Group by 52.4% in the 4th quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 752 shares during the period. SG Americas Securities LLC acquired a new position in Barnes Group during the third quarter worth $178,000. Centiva Capital LP bought a new position in shares of Barnes Group in the third quarter valued at $212,000. Finally, Captrust Financial Advisors acquired a new position in shares of Barnes Group during the third quarter valued at about $224,000. 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.