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

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

Several other equities analysts have also recently issued reports on B. DA Davidson reiterated a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial upped their price objective on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Stock Performance

Shares of Barnes Group stock opened at $46.90 on Tuesday. The firm’s fifty day simple moving average is $44.75 and its 200-day simple moving average is $41.32. Barnes Group has a 12 month low of $25.75 and a 12 month high of $47.40. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -60.91, a PEG ratio of 3.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Institutional Trading of Barnes Group

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in Barnes Group by 9.3% in the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after purchasing an additional 11,279 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Barnes Group during the 3rd quarter valued at about $676,000. XTX Topco Ltd purchased a new position in shares of Barnes Group during the 3rd quarter worth about $492,000. Jane Street Group LLC boosted its position in shares of Barnes Group by 22.9% in the third 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 last quarter. Finally, Systematic Financial Management LP purchased a new stake in Barnes Group in the third quarter valued at approximately $1,021,000. Institutional investors and hedge funds 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.