Barnes Group (NYSE:B) Coverage Initiated at StockNews.com

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

Other equities research analysts have also recently issued reports about the company. Truist Financial boosted their price objective on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. DA Davidson reissued 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.

Barnes Group Stock Performance

NYSE B opened at $47.13 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. Barnes Group has a 1-year low of $29.67 and a 1-year high of $47.40. The business has a 50 day simple moving average of $46.81 and a two-hundred day simple moving average of $42.18. The stock has a market capitalization of $2.40 billion, a PE ratio of -61.21 and a beta of 1.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in B. GAMMA Investing LLC raised its position in shares of Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares in the last quarter. SG Americas Securities LLC purchased a new position in Barnes Group in the third quarter valued at about $178,000. Centiva Capital LP bought a new position in Barnes Group in the third quarter worth about $212,000. Captrust Financial Advisors purchased a new stake in shares of Barnes Group during the third quarter valued at about $224,000. Finally, Needham Investment Management LLC bought a new stake in shares of Barnes Group in the 3rd quarter valued at about $242,000. Hedge funds and other 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.