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

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

Other equities research analysts also recently issued research reports about the company. DA Davidson reiterated a “neutral” rating and issued a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial raised their price objective on 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 Price Performance

Barnes Group stock opened at $47.21 on Friday. The stock’s fifty day moving average price is $46.88 and its two-hundred day moving average price is $42.57. The firm has a market cap of $2.40 billion, a PE ratio of -61.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. Barnes Group has a one year low of $29.67 and a one year high of $47.40.

Hedge Funds Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently modified their holdings of B. GAMMA Investing LLC boosted its position in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares in the last quarter. SG Americas Securities LLC acquired a new position in Barnes Group during the 3rd 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 acquired a new stake in Barnes Group in the third quarter valued at approximately $224,000. Finally, Needham Investment Management LLC bought a new stake in shares of Barnes Group during the third quarter valued at approximately $242,000. 90.82% of the stock is currently owned by 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.