Barnes Group (NYSE:B) Research Coverage Started at StockNews.com

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

A number of other equities analysts have also recently issued reports on the stock. Truist Financial upped their price target on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. DA Davidson reiterated a “neutral” rating and issued a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Stock Performance

Shares of Barnes Group stock opened at $47.26 on Friday. The business has a fifty day simple moving average of $46.88 and a two-hundred day simple moving average of $42.63. The firm has a market capitalization of $2.41 billion, a P/E ratio of -61.38 and a beta of 1.34. 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 12 month low of $29.67 and a 12 month high of $47.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Barnes Group by 158.2% in the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 31,000 shares during the period. Jane Street Group LLC boosted its stake in Barnes Group by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after purchasing an additional 28,649 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Barnes Group by 9.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock valued at $22,148,000 after buying an additional 47,821 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Barnes Group during the second quarter valued at approximately $714,000. Finally, Barclays PLC boosted its position in shares of Barnes Group by 9.3% during the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock worth $5,353,000 after acquiring an additional 11,279 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

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.