Could Barnes Group Inc. (B) Increase Even More? The Stock Formed Bullish Inverse Head & Shoulders Pattern

September 16, 2018 - By Andrea Pope

Barnes Group Inc. (NYSE:B) Logo

Investors sentiment decreased to 0.9 in Q2 2018. Its down 0.05, from 0.95 in 2018Q1. It fall, as 18 investors sold Barnes Group Inc. shares while 73 reduced holdings. 25 funds opened positions while 57 raised stakes. 43.62 million shares or 2.96% less from 44.95 million shares in 2018Q1 were reported.
Louisiana State Employees Retirement System has 21,700 shares. Smithfield Trust owns 5,810 shares or 0.04% of their US portfolio. Signaturefd Ltd Liability has 26 shares. Aqr Cap Mgmt Limited Liability Corporation holds 71,811 shares. Moreover, Vanguard Group Incorporated has 0.01% invested in Barnes Group Inc. (NYSE:B). Zacks Invest Mgmt has invested 0.05% in Barnes Group Inc. (NYSE:B). Moreover, Canandaigua Bancorporation & Co has 0.06% invested in Barnes Group Inc. (NYSE:B) for 5,280 shares. 1.31 million were accumulated by Price T Rowe Associate Md. Moreover, Stifel Financial has 0.04% invested in Barnes Group Inc. (NYSE:B) for 220,092 shares. Manufacturers Life Ins Co The has invested 0% in Barnes Group Inc. (NYSE:B). California State Teachers Retirement stated it has 75,163 shares. Goldman Sachs Group Incorporated has 244,958 shares for 0% of their portfolio. 192,068 are held by Foundry Prns Ltd Com. Invesco Limited reported 0% in Barnes Group Inc. (NYSE:B). Gsa Capital Partners Ltd Liability Partnership stated it has 14,338 shares.

Since May 4, 2018, it had 5 buys, and 1 insider sale for $83,194 activity. $2,060 worth of Barnes Group Inc. (NYSE:B) was bought by MANGUM MYLLE H on Monday, September 10. $26,775 worth of Barnes Group Inc. (NYSE:B) shares were bought by Hipple Richard J. The insider BENANAV GARY G bought $2,128.

The stock of Barnes Group Inc. (B) formed H&SI with $74.69 price target or 7.00 % above the current $69.80 share price. The 8 months Head & Shoulders Inverse reveals low risk for the $3.57B company. This trade was featured by Faxor.com on Sep, 16. If the $74.69 target price is reached, the company’s valuation will be $250.11M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 1.09% or $0.75 during the last trading session, reaching $69.8. About 149,287 shares traded. Barnes Group Inc. (NYSE:B) has risen 6.35% since September 16, 2017 and is uptrending. It has underperformed by 9.27% the S&P500.

Analysts await Barnes Group Inc. (NYSE:B) to report earnings on October, 26. They expect $0.81 earnings per share, up 22.73 % or $0.15 from last year’s $0.66 per share. B’s profit will be $41.46 million for 21.54 P/E if the $0.81 EPS becomes a reality. After $0.90 actual earnings per share reported by Barnes Group Inc. for the previous quarter, Wall Street now forecasts -10.00 % negative EPS growth.

Barnes Group Inc. (NYSE:B) Ratings Coverage

Among 3 analysts covering Barnes Group (NYSE:B), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Barnes Group had 3 analyst reports since May 18, 2018 according to SRatingsIntel. The rating was maintained by Robert W. Baird with “Neutral” on Monday, July 30.

Another recent and important Barnes Group Inc. (NYSE:B) news was published by Nasdaq.com which published an article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Aerie Pharmaceuticals, BioScrip, Celsion, Primoris …” on September 05, 2018.

Barnes Group Inc. operates as an industrial and aerospace manufacturer, and service well-known provider in the United States and internationally. The company has market cap of $3.57 billion. The Company’s Industrial segment offers precision components, products, and systems for applications serving various clients in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. It has a 58.22 P/E ratio. This segment also makes and supplies precision mechanical products, including mechanical springs, high-precision punched and fine-blanked components, and retention rings; force and motion solutions for sheet metal forming, heavy duty suspension, and other markets; and hot runner systems, mold cavity sensors and process control systems, and precision high cavitation mold for injection molding applications.

Barnes Group Inc. (NYSE:B) Institutional Positions Chart

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