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

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

Other analysts have also recently issued research reports about the stock. 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 note on Monday, October 7th. Truist Financial upped their price target 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.

Barnes Group Stock Performance

Shares of Barnes Group stock opened at $47.29 on Monday. The company has a 50 day moving average of $46.99 and a 200-day moving average of $43.21. The company has a market cap of $2.41 billion, a PE ratio of -61.41 and a beta of 1.32. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Barnes Group has a 1-year low of $30.05 and a 1-year high of $47.40.

Institutional Investors Weigh In On Barnes Group

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