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

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a research report sent to investors on Thursday morning. The brokerage issued a sell rating on the industrial products company’s stock.

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

Barnes Group Price Performance

B opened at $47.07 on Thursday. 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 firm has a market capitalization of $2.40 billion, a PE ratio of -61.13 and a beta of 1.34. The business’s 50-day moving average is $46.76 and its two-hundred day moving average is $41.96. Barnes Group has a 1 year low of $29.60 and a 1 year high of $47.40.

Institutional Investors Weigh In On Barnes Group

A number of institutional investors have recently added to or reduced their stakes in B. GAMMA Investing LLC boosted its holdings in shares of Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after buying an additional 238 shares during the period. SG Americas Securities LLC acquired a new position in Barnes Group during the 3rd quarter valued at about $178,000. Centiva Capital LP acquired a new stake in shares of Barnes Group in the third quarter valued at approximately $212,000. Captrust Financial Advisors bought a new stake in Barnes Group during the 3rd quarter valued at $224,000. Finally, Needham Investment Management LLC acquired a new stake in Barnes Group in the third quarter worth about $242,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.