Barnes Group (NYSE:B) Earns Sell Rating from Analysts at StockNews.com

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

B has been the subject of a number of other reports. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial upped their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Price Performance

NYSE:B opened at $47.32 on Tuesday. Barnes Group has a 12-month low of $30.18 and a 12-month high of $47.43. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -61.45 and a beta of 1.32. The company’s 50-day moving average is $47.05 and its two-hundred day moving average is $43.45. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in B. Renaissance Technologies LLC grew its position 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 worth $2,095,000 after purchasing an additional 31,000 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Barnes Group during the second quarter worth about $277,000. Sei Investments Co. increased its stake in Barnes Group by 3.0% during the second quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company’s stock valued at $13,582,000 after acquiring an additional 9,609 shares during the period. Gabelli Funds LLC acquired a new position in Barnes Group in the 2nd quarter valued at approximately $538,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Barnes Group by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 111,541 shares of the industrial products company’s stock worth $4,619,000 after acquiring an additional 7,671 shares during the period. Institutional investors and hedge funds 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.