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

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

Several other brokerages have also commented on B. DA Davidson restated a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial boosted their price target on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th.

Barnes Group Price Performance

B stock opened at $47.47 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $47.09 and its 200 day simple moving average is $43.52. Barnes Group has a 12-month low of $31.63 and a 12-month high of $47.48. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -61.64 and a beta of 1.32.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in B. GAMMA Investing LLC lifted its stake in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after buying an additional 238 shares in the last quarter. KBC Group NV raised its holdings in shares of Barnes Group by 52.4% in the 4th quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 752 shares during the last quarter. SG Americas Securities LLC bought a new position in Barnes Group in the 3rd quarter valued at about $178,000. Centiva Capital LP acquired a new position in Barnes Group during the 3rd quarter valued at about $212,000. Finally, Captrust Financial Advisors bought a new stake in Barnes Group during the 3rd quarter worth approximately $224,000. 90.82% of the stock is 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.