Barnes Group (NYSE:B) Reaches New 1-Year High – Time to Buy?

Barnes Group Inc. (NYSE:B)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $47.28 and last traded at $47.12, with a volume of 2270 shares trading hands. The stock had previously closed at $46.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on B. Truist Financial boosted their price target on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. StockNews.com began coverage on shares of Barnes Group in a research note on Saturday. They set a “sell” rating for the company. Finally, DA Davidson reissued a “neutral” rating and issued a $47.50 target price (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -60.65, a P/E/G ratio of 3.21 and a beta of 1.35. The company’s fifty day moving average is $42.28 and its two-hundred day moving average is $40.28.

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 lifted its holdings 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 valued at $66,000 after acquiring an additional 238 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Barnes Group in the 1st quarter valued at about $107,000. SG Americas Securities LLC acquired a new position in Barnes Group in the 3rd quarter worth about $178,000. QRG Capital Management Inc. purchased a new position in Barnes Group during the first quarter worth approximately $217,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Barnes Group in the first quarter valued at approximately $253,000. 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.