Barclays (NYSE:BCS) Rating Increased to Buy at Citigroup

Barclays (NYSE:BCS) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, April 22nd, MarketBeat.com reports.

BCS has been the subject of a number of other reports. Berenberg Bank raised their price objective on Barclays from GBX 245 ($3.06) to GBX 260 ($3.25) in a research report on Friday, February 25th. StockNews.com began coverage on Barclays in a report on Thursday, March 31st. They set a “buy” rating for the company. Bank of America lowered Barclays from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $220.00 in a report on Friday, January 28th. UBS Group reduced their target price on Barclays from GBX 265 ($3.31) to GBX 260 ($3.25) and set a “buy” rating for the company in a report on Thursday, February 24th. Finally, Exane BNP Paribas lowered Barclays from an “outperform” rating to a “neutral” rating in a report on Monday, March 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $197.60.

BCS traded up $0.16 during trading on Friday, reaching $7.91. The company had a trading volume of 11,552,872 shares, compared to its average volume of 8,614,088. The firm’s 50-day simple moving average is $8.34 and its 200 day simple moving average is $9.89. The company has a market cap of $33.14 billion, a price-to-earnings ratio of 4.16, a PEG ratio of 0.18 and a beta of 1.38. Barclays has a 12-month low of $7.19 and a 12-month high of $12.20. The company has a debt-to-equity ratio of 5.20, a quick ratio of 1.39 and a current ratio of 1.39.

Barclays (NYSE:BCSGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7 billion. Barclays had a return on equity of 8.42% and a net margin of 27.33%. On average, sell-side analysts expect that Barclays will post 1.33 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Barclays by 31.6% in the fourth quarter. Bank of America Corp DE now owns 15,615,622 shares of the financial services provider’s stock valued at $161,621,000 after buying an additional 3,745,946 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Barclays by 2.4% in the fourth quarter. Parametric Portfolio Associates LLC now owns 7,716,899 shares of the financial services provider’s stock worth $79,870,000 after acquiring an additional 181,629 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Barclays by 31.5% in the fourth quarter. BlackRock Inc. now owns 5,743,525 shares of the financial services provider’s stock worth $59,446,000 after acquiring an additional 1,376,771 shares in the last quarter. Cambiar Investors LLC bought a new position in shares of Barclays during the fourth quarter worth about $57,276,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Barclays by 7.7% during the third quarter. Goldman Sachs Group Inc. now owns 4,666,172 shares of the financial services provider’s stock worth $48,155,000 after buying an additional 332,005 shares in the last quarter. 2.56% of the stock is currently owned by hedge funds and other institutional investors.

Barclays Company Profile (Get Rating)

Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International divisions. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.

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