Barnes Group (NYSE:B) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a research report report published on Tuesday morning. The firm issued a sell rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on the stock. Truist Financial boosted their price objective on shares of 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 reissued a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Price Performance

Barnes Group stock opened at $46.86 on Tuesday. Barnes Group has a 1 year low of $25.75 and a 1 year high of $47.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. The firm has a 50 day moving average price of $45.10 and a 200 day moving average price of $41.42. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -60.86, a PEG ratio of 3.37 and a beta of 1.35.

Institutional Trading of Barnes Group

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Barnes Group during the 3rd quarter valued at about $178,000. Centiva Capital LP acquired a new position in Barnes Group during the 3rd quarter worth approximately $212,000. Captrust Financial Advisors purchased a new position in Barnes Group in the 3rd quarter worth approximately $224,000. Finally, Needham Investment Management LLC acquired a new stake in Barnes Group in the third quarter valued at approximately $242,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.