Barnes Group (NYSE:B) Reaches New 52-Week High – Should You Buy?

Shares of Barnes Group Inc. (NYSE:B) reached a new 52-week high during trading on Thursday . The company traded as high as $47.40 and last traded at $47.18, with a volume of 50573 shares traded. The stock had previously closed at $47.18.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on B shares. StockNews.com began coverage on shares of Barnes Group in a research note on Friday, December 20th. They set a “sell” rating on the stock. DA Davidson reaffirmed a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Finally, Truist Financial lifted 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.

Barnes Group Price Performance

The company has a market cap of $2.40 billion, a price-to-earnings ratio of -61.27 and a beta of 1.34. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $46.85 and a 200 day moving average price of $42.46.

Hedge Funds Weigh In On Barnes Group

A number of hedge funds and other institutional investors have recently modified their holdings of B. GAMMA Investing LLC increased its holdings in shares of Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Barnes Group during the 3rd quarter valued at $178,000. Centiva Capital LP purchased a new position in shares of Barnes Group during the 3rd quarter valued at $212,000. Captrust Financial Advisors acquired a new position in shares of Barnes Group in the third quarter worth $224,000. Finally, Needham Investment Management LLC purchased a new stake in shares of Barnes Group during the third quarter worth $242,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.