Barnes Group (NYSE:B) Stock Rating Lowered by StockNews.com

Barnes Group (NYSE:B) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also weighed in on the company. Oppenheimer boosted their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Truist Financial boosted their price objective on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday. Finally, DA Davidson reissued a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a report on Monday.

Barnes Group Stock Performance

Shares of B opened at $46.52 on Tuesday. The stock’s 50-day moving average is $39.01 and its two-hundred day moving average is $38.80. The stock has a market cap of $2.36 billion, a PE ratio of 516.89, a P/E/G ratio of 2.43 and a beta of 1.38. Barnes Group has a 12 month low of $18.79 and a 12 month high of $46.70. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

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

Institutional Investors Weigh In On Barnes Group

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Barnes Group by 17.1% in the third 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 period. Handelsbanken Fonder AB lifted its position in Barnes Group by 5.1% in the third quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 500 shares during the period. SG Americas Securities LLC acquired a new stake in Barnes Group in the third quarter worth approximately $178,000. William B. Walkup & Associates Inc. acquired a new stake in Barnes Group in the second quarter worth approximately $714,000. Finally, Creative Planning lifted its position in Barnes Group by 13.8% in the second quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock worth $1,053,000 after purchasing an additional 3,089 shares during the period. 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.