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

StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a research note published on Sunday. The brokerage issued a sell rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on B. Truist Financial raised their target price on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th. DA Davidson restated a “neutral” rating and set a $47.50 target price (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Trading Down 0.2 %

Shares of B stock opened at $47.18 on Friday. 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 cap of $2.40 billion, a PE ratio of -61.27 and a beta of 1.34. The company has a 50-day moving average of $46.93 and a two-hundred day moving average of $42.91. Barnes Group has a 1-year low of $29.67 and a 1-year high of $47.40.

Institutional Investors Weigh In On Barnes Group

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Barnes Group by 158.2% in the 2nd quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 31,000 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Barnes Group by 22.9% during the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after acquiring an additional 28,649 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Barnes Group by 9.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after acquiring an additional 47,821 shares during the period. William B. Walkup & Associates Inc. purchased a new position in shares of Barnes Group during the 2nd quarter worth about $714,000. Finally, Barclays PLC increased its position in Barnes Group by 9.3% during the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock worth $5,353,000 after purchasing an additional 11,279 shares in the last quarter. 90.82% of the stock is currently 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.