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

by · The Cerbat Gem

StockNews.com started coverage on shares of Barnes Group (NYSE:B – Free Report) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on B. Truist Financial raised their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. DA Davidson reaffirmed 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.

Read Our Latest Research Report on B

Barnes Group Trading Up 0.2 %

NYSE:B opened at $46.61 on Thursday. The company has a 50 day simple moving average of $40.25 and a two-hundred day simple moving average of $39.29. The company has a market cap of $2.36 billion, a PE ratio of 517.89, a price-to-earnings-growth ratio of 2.87 and a beta of 1.38. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. Barnes Group has a 12 month low of $18.79 and a 12 month high of $46.72.

Barnes Group (NYSE:B – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $382.23 million for the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Research analysts forecast that Barnes Group will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Barnes Group

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Barnes Group by 17.1% during 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 during the last quarter. QRG Capital Management Inc. grew its stake in Barnes Group by 4.1% during the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 240 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after acquiring an additional 263 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Barnes Group by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 400 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Barnes Group by 5.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barnes Group Company Profile

(Get Free Report)

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.

Read More