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

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

A number of other research firms have also commented on B. 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 lifted their price target on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Stock Up 0.2 %

Shares of NYSE B opened at $46.78 on Monday. Barnes Group has a 52-week low of $25.75 and a 52-week high of $47.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. The business has a fifty day moving average of $43.95 and a two-hundred day moving average of $41.06. The stock has a market cap of $2.38 billion, a PE ratio of -60.75, a PEG ratio of 3.21 and a beta of 1.35.

Hedge Funds Weigh In On Barnes Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 238 shares during 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 acquired a new position in shares of Barnes Group in the third quarter valued at about $178,000. Centiva Capital LP bought a new position in Barnes Group during the third quarter worth about $212,000. Finally, Captrust Financial Advisors acquired a new stake in Barnes Group in the 3rd quarter worth about $224,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.