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

Equities research analysts at StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. 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 report on Monday, October 7th. Truist Financial raised their price objective on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th.

Barnes Group Stock Performance

Shares of NYSE B opened at $46.86 on Tuesday. The stock’s 50-day moving average is $44.93 and its 200 day moving average is $41.38. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -60.87, a P/E/G ratio of 3.37 and a beta of 1.35. Barnes Group has a 1-year low of $25.75 and a 1-year high of $47.40. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after acquiring an additional 206,351 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Barnes Group by 1.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,904 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 581 shares during the period. Price T Rowe Associates Inc. MD raised its position in Barnes Group by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,079 shares of the industrial products company’s stock valued at $1,192,000 after purchasing an additional 1,672 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Barnes Group by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock worth $251,000 after buying an additional 240 shares during the period. Finally, S. R. Schill & Associates bought a new stake in shares of Barnes Group in the 2nd quarter worth approximately $349,000. 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.