Barnes Group (NYSE:B) Reaches New 1-Year High – Here’s Why

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

Analysts Set New Price Targets

B has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. DA Davidson reissued a “neutral” rating and set a $47.50 price target (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, StockNews.com started coverage on shares of Barnes Group in a report on Saturday, November 2nd. They set a “sell” rating on the stock.

Barnes Group Trading Up 0.1 %

The stock has a market capitalization of $2.38 billion, a PE ratio of -60.58, a P/E/G ratio of 3.21 and a beta of 1.35. The company’s 50 day moving average price is $42.53 and its two-hundred day moving average price is $40.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Hedge Funds Weigh In On Barnes Group

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Barnes Group during the first quarter worth about $107,000. SG Americas Securities LLC purchased a new position in Barnes Group during the third quarter worth about $178,000. QRG Capital Management Inc. purchased a new position in Barnes Group during the first quarter worth about $217,000. Finally, Quest Partners LLC purchased a new position in Barnes Group during the third quarter worth about $248,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Company Profile

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.