Barnes Group (NYSE:B) Hits New 52-Week High – Time to Buy?

Shares of Barnes Group Inc. (NYSE:B) reached a new 52-week high on Friday . The stock traded as high as $47.43 and last traded at $47.33, with a volume of 109791 shares trading hands. The stock had previously closed at $47.31.

Analysts Set New Price Targets

Several research firms recently weighed in on B. DA Davidson restated a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th. StockNews.com assumed coverage on Barnes Group in a research note on Monday. They issued a “sell” rating on the stock. Finally, 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.

Barnes Group Trading Down 0.0 %

The stock has a market cap of $2.41 billion, a PE ratio of -61.43 and a beta of 1.32. The stock has a 50-day moving average of $47.03 and a 200 day moving average of $43.31. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of B. GAMMA Investing LLC raised its stake in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares during the period. SG Americas Securities LLC purchased a new position in shares of Barnes Group during the 3rd quarter worth $178,000. Centiva Capital LP acquired a new position in Barnes Group during the 3rd quarter worth about $212,000. Captrust Financial Advisors acquired a new position in Barnes Group during the 3rd quarter worth about $224,000. Finally, Needham Investment Management LLC acquired a new position in Barnes Group during the 3rd quarter worth about $242,000. 90.82% of the stock is 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.