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

StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a research note published on Sunday. The brokerage issued a sell rating on the industrial products company’s stock.

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

Barnes Group Stock Down 0.2 %

Shares of NYSE:B opened at $47.18 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group has a 52-week low of $29.67 and a 52-week high of $47.40. The company has a 50 day moving average of $46.93 and a two-hundred day moving average of $42.91. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -61.27 and a beta of 1.34.

Hedge Funds Weigh In On Barnes Group

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Barnes Group by 17.1% during the third 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 during the last quarter. SG Americas Securities LLC bought a new position in Barnes Group during the third quarter worth $178,000. Centiva Capital LP bought a new position in Barnes Group during the third quarter worth $212,000. Captrust Financial Advisors bought a new position in Barnes Group during the third quarter worth $224,000. Finally, Needham Investment Management LLC bought a new position in Barnes Group during the third quarter worth $242,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.