Today’s Price Action: How Analysts Feel About Barnes Group Inc. After Reaching 52-Week High?

Today's Price Action: How Analysts Feel About Barnes Group Inc. After Reaching 52 Week High?

The stock of Barnes Group Inc. (NYSE:B) hit a new 52-week high and has $49.31 target or 7.00% above today’s $46.08 share price. The 7 months bullish chart indicates low risk for the $2.54 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $49.31 price target is reached, the company will be worth $177.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,852 shares traded hands. Barnes Group Inc. (NYSE:B) has risen 22.93% since April 20, 2016 and is uptrending. It has outperformed by 18.38% the S&P500.

Barnes Group Inc. (NYSE:B) Ratings Coverage

Out of 6 analysts covering Barnes Group (NYSE:B), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $50 is the highest target while $36 is the lowest. The $39.40 average target is -14.50% below today’s ($46.08) stock price. Barnes Group has been the topic of 13 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Oppenheimer maintained Barnes Group Inc. (NYSE:B) rating on Friday, February 12. Oppenheimer has “Outperform” rating and $36 price target. The stock has “Buy” rating given by Deutsche Bank on Thursday, April 7. The rating was upgraded by Oppenheimer on Friday, August 7 to “Outperform”. The rating was initiated by Buckingham Research with “Neutral” on Monday, October 19. DA Davidson initiated the stock with “Neutral” rating in Friday, December 11 report. The firm has “Buy” rating given on Tuesday, January 12 by Sidoti. The company was maintained on Monday, October 26 by Oppenheimer.

According to Zacks Investment Research, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers.”

Insitutional Activity: The institutional sentiment increased to 1.56 in Q2 2016. Its up 0.64, from 0.92 in 2016Q1. The ratio is positive, as 14 funds sold all Barnes Group Inc. shares owned while 69 reduced positions. 21 funds bought stakes while 55 increased positions. They now own 44.00 million shares or 2.38% more from 42.98 million shares in 2016Q1.
Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 1,085 shares. Pnc Financial Grp Incorporated reported 4,275 shares or 0% of all its holdings. 1St Glob Advsr has 0.05% invested in the company for 11,358 shares. Walleye Trading Ltd Liability holds 0% of its portfolio in Barnes Group Inc. (NYSE:B) for 1,000 shares. Ironwood Investment Mngmt Ltd Limited Liability Company holds 35,105 shares or 0.87% of its portfolio. Price T Rowe Associates Md has 18,850 shares for 0% of their US portfolio. Wells Fargo & Communications Mn holds 0% of its portfolio in Barnes Group Inc. (NYSE:B) for 84,211 shares. Prudential Fin Incorporated has 129,673 shares for 0.01% of their US portfolio. Qs Invsts Ltd Liability Corp holds 15 shares or 0% of its portfolio. D E Shaw And Company accumulated 235,682 shares or 0.01% of the stock. Vanguard Gp holds 0.01% or 3.97 million shares in its portfolio. Anchor Capital Advsr Limited Com reported 28,871 shares or 0.02% of all its holdings. Commonwealth Equity Svcs Inc holds 0% of its portfolio in Barnes Group Inc. (NYSE:B) for 6,811 shares. First Tru Advsr Limited Partnership owns 142,782 shares or 0.01% of their US portfolio. The Ontario – Canada-based Comml Bank Of Montreal Can has invested 0% in Barnes Group Inc. (NYSE:B).

Insider Transactions: Since May 23, 2016, the stock had 0 buys, and 7 sales for $1.89 million net activity. Another trade for 4,400 shares valued at $145,101 was made by MCCLELLAN HASSELL H on Monday, May 23. Another trade for 350 shares valued at $11,603 was sold by BARNES THOMAS O. The insider EDWARDS DAWN N sold $189,131. STEPHENS CHRISTOPHER J also sold $893,022 worth of Barnes Group Inc. (NYSE:B) on Friday, September 16. BENANAV GARY G also sold $411,037 worth of Barnes Group Inc. (NYSE:B) shares.

More recent Barnes Group Inc. (NYSE:B) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Forward Air, Equifax and Barnes Group” on November 17, 2016. Also Nasdaq.com published the news titled: “Barnes Group, Inc. (B) Ex-Dividend Date Scheduled for November 21, 2016” on November 18, 2016. Businesswire.com‘s news article titled: “Barnes Group Inc. Elects Hans-Peter Männer to Board of Directors” with publication date: October 19, 2016 was also an interesting one.

B Company Profile

Barnes Group Inc., incorporated on January 30, 1925, is an industrial and aerospace maker and service provider, serving a range of end-markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world. The Company’s divisions include Industrial and Aerospace. The Industrial segment includes the Molding Solutions, Engineered Components and Nitrogen Gas Products business units. The Aerospace segment includes the original equipment maker (OEM) business and the aftermarket business, whichcomprises maintenance overhaul and repair (MRO) services, and the manufacture and delivery of aerospace aftermarket spare parts.

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