StockNews.com assumed coverage on shares of Barnes Group (NYSE:B - Free Report) in a research report sent to investors on Monday morning. The firm issued a sell rating on the industrial products company's stock.
Other research analysts also recently issued reports about the company. Truist Financial lifted their target price on Barnes Group from $38.00 to $47.50 and gave the company a "hold" rating in a research report on Tuesday, October 8th. DA Davidson reiterated a "neutral" rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.
Read Our Latest Report on B
Barnes Group Stock Performance
B remained flat at $47.27 during trading hours on Monday. The company had a trading volume of 771,461 shares, compared to its average volume of 889,223. 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 business's fifty day moving average is $46.99 and its 200-day moving average is $43.21. Barnes Group has a 12-month low of $30.05 and a 12-month high of $47.40. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -61.39 and a beta of 1.32.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. GAMMA Investing LLC boosted its stake in shares of Barnes Group by 17.1% in the 3rd 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 during the period. SG Americas Securities LLC purchased a new position in shares of Barnes Group in the third quarter valued at $178,000. Centiva Capital LP acquired a new stake in shares of Barnes Group during the third quarter valued at $212,000. Captrust Financial Advisors purchased a new stake in Barnes Group in the 3rd quarter valued at about $224,000. Finally, Needham Investment Management LLC acquired a new position in shares of Barnes Group in the 3rd quarter valued at about $242,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group Company Profile
(
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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.
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