Barnes Group (NYSE:B) Reaches New 52-Week High – What’s Next?

Barnes Group Inc. (NYSE:B)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.72 and last traded at $46.69, with a volume of 65932 shares traded. The stock had previously closed at $46.67.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on B shares. Truist Financial boosted their price objective on shares of 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 assumed coverage on Barnes Group in a research note on Friday. They issued a “sell” rating on the stock. Finally, DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Price Performance

The firm’s fifty day simple moving average is $41.15 and its 200-day simple moving average is $39.65. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $2.38 billion, a PE ratio of 521.11, a PEG ratio of 2.87 and a beta of 1.38.

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

Institutional Investors Weigh In On Barnes Group

Institutional investors have recently modified their holdings of the business. Westwood Holdings Group Inc. purchased a new stake in Barnes Group in the second quarter worth approximately $32,576,000. AYAL Capital Advisors Ltd bought a new stake in shares of Barnes Group in the second quarter worth $12,166,000. Mason Capital Management LLC increased its position in Barnes Group by 32.9% during the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after acquiring an additional 259,957 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Barnes Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after acquiring an additional 206,351 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in Barnes Group by 10.7% in the first quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock worth $27,997,000 after purchasing an additional 72,546 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.