Barnes Group (NYSE:B) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a research note issued to investors on Monday morning. The firm issued a sell rating on the industrial products company’s stock.

Several other analysts also recently issued reports on the stock. DA Davidson reissued 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 increased their price target on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Price Performance

Shares of Barnes Group stock opened at $46.71 on Monday. The stock has a 50 day moving average price of $43.72 and a 200-day moving average price of $40.99. Barnes Group has a one year low of $25.75 and a one year high of $47.40. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -60.66, a price-to-earnings-growth ratio of 3.21 and a beta of 1.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28.

Hedge Funds Weigh In On Barnes Group

A number of hedge funds have recently added to or reduced their stakes in B. GAMMA Investing LLC grew 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 buying an additional 238 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Barnes Group in the first quarter valued at about $107,000. SG Americas Securities LLC purchased a new stake in Barnes Group in the third quarter worth about $178,000. Centiva Capital LP bought a new position in Barnes Group during the 3rd quarter worth about $212,000. Finally, Captrust Financial Advisors purchased a new position in Barnes Group during the 3rd quarter valued at about $224,000. 90.82% of the stock is currently owned by 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.