Barnes Group (NYSE:B) Now Covered by StockNews.com

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

A number of other equities analysts have also commented on B. 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 restated 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.

Barnes Group Price Performance

Shares of Barnes Group stock opened at $47.01 on Wednesday. The stock has a 50 day moving average of $45.68 and a 200 day moving average of $41.61. Barnes Group has a 12 month low of $27.21 and a 12 month high of $47.40. The firm has a market cap of $2.39 billion, a PE ratio of -61.12 and a beta of 1.34. 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 Investors Weigh In On Barnes Group

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares during the period. SG Americas Securities LLC bought a new position in Barnes Group in the third quarter worth approximately $178,000. Centiva Capital LP bought a new position in Barnes Group in the third quarter worth approximately $212,000. Captrust Financial Advisors bought a new position in Barnes Group in the third quarter worth approximately $224,000. Finally, Needham Investment Management LLC bought a new position in Barnes Group in the third quarter worth approximately $242,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

About Barnes Group

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.