Barclays (NYSE:BCS) Sets New 1-Year High – What’s Next?

Barclays PLC (NYSE:BCS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.41 and last traded at $22.1550, with a volume of 4637383 shares trading hands. The stock had previously closed at $22.21.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Barclays from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of Barclays in a research report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating on shares of Barclays in a research note on Thursday, October 23rd. Wall Street Zen lowered Barclays from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Barclays in a research report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Barclays Stock Up 1.6%

The stock’s fifty day moving average price is $20.67 and its 200-day moving average price is $19.21. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 5.94. The company has a market capitalization of $78.78 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.42 and a beta of 1.14.

Barclays (NYSE:BCS) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Barclays had a return on equity of 8.19% and a net margin of 21.26%.The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $6.95 billion. On average, sell-side analysts predict that Barclays PLC will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Barclays by 14.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 352,328 shares of the financial services provider’s stock valued at $5,412,000 after buying an additional 43,607 shares in the last quarter. FORA Capital LLC acquired a new position in Barclays in the first quarter valued at $697,000. RWA Wealth Partners LLC acquired a new stake in Barclays during the 2nd quarter worth about $654,000. Invesco Ltd. raised its position in shares of Barclays by 8,088.1% in the 1st quarter. Invesco Ltd. now owns 882,108 shares of the financial services provider’s stock worth $13,549,000 after acquiring an additional 871,335 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Barclays during the 1st quarter valued at about $230,000. 3.39% of the stock is currently owned by institutional investors and hedge funds.

Barclays Company Profile

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