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

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

Several other brokerages also recently issued reports 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 report on Tuesday, October 8th. DA Davidson reissued a “neutral” rating and set a $47.50 price target (down 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 $47.07 on Thursday. Barnes Group has a 1 year low of $29.60 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 $46.76 and a 200 day moving average price of $41.94. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -61.13 and a beta of 1.34.

Institutional Trading of Barnes Group

A number of large investors have recently modified their holdings of B. GAMMA Investing LLC increased its stake in Barnes Group by 17.1% during 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 stake in Barnes Group in the third quarter worth approximately $178,000. Centiva Capital LP bought a new position in Barnes Group during the 3rd quarter valued at $212,000. Captrust Financial Advisors acquired a new position in shares of Barnes Group during the 3rd quarter valued at $224,000. Finally, Needham Investment Management LLC bought a new stake in shares of Barnes Group in the 3rd quarter worth $242,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.