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

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

Other equities analysts have also issued reports about the company. DA Davidson reiterated a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial lifted their price target on shares of 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 Trading Up 0.1 %

Shares of NYSE B opened at $46.70 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. Barnes Group has a twelve month low of $18.79 and a twelve month high of $46.72. The company’s fifty day moving average is $40.98 and its 200-day moving average is $39.58. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 518.89, a P/E/G ratio of 2.87 and a beta of 1.38.

Barnes Group (NYSE:B) last posted its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The business had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Equities research analysts predict that Barnes Group will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Barnes Group

Several institutional investors have recently bought and sold shares of B. 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 valued at $66,000 after purchasing an additional 238 shares during the last quarter. QRG Capital Management Inc. grew its position in Barnes Group by 4.1% in the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 240 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after buying an additional 263 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Barnes Group by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 400 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Barnes Group by 5.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock worth $418,000 after buying an additional 500 shares during the last quarter. Institutional investors 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.