Barclays (LON:BARC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Barclays PLC (LON:BARC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 456.44 and traded as high as GBX 524.50. Barclays shares last traded at GBX 524.50, with a volume of 37,646,980 shares changing hands.

Barclays News Roundup

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays continued to receive favorable analyst coverage in related sectors, including an “Overweight” rating on Fresco/financial-market activity tied to its research pipeline, which can support sentiment around the franchise. Barclays sees FCNR inflows falling short of market hype
• Neutral Sentiment: Barclays was mentioned in an article about what it gets from extending financing for Frontier Airlines, highlighting continued activity in structured and aviation finance, but with no clear immediate earnings impact disclosed. What Barclays gets from its Frontier Airlines extension
• Negative Sentiment: Mortgage lenders including Barclays raised rates after renewed inflation fears tied to the conflict in Iran, which can hurt borrower demand and raise concerns about the outlook for U.K. lending volumes. Nationwide and Barclays among first to up mortgage rates as conflict in Iran raises inflation fears
• Negative Sentiment: Barclays said FCNR(B) inflows are falling short of market hype, suggesting a more muted benefit than investors may have expected from that funding source. FCNR(B) inflows short of expectations: Barclays

Wall Street Analyst Weigh In

BARC has been the topic of a number of analyst reports. Royal Bank Of Canada raised Barclays to an “outperform” rating and lifted their price target for the stock from GBX 550 to GBX 575 in a research note on Wednesday, April 29th. Shore Capital Group reiterated a “buy” rating on shares of Barclays in a research report on Tuesday, April 28th. Berenberg Bank reissued a “buy” rating and set a GBX 620 price objective on shares of Barclays in a research note on Wednesday, June 24th. Citigroup raised their target price on shares of Barclays from GBX 425 to GBX 450 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Barclays from GBX 570 to GBX 590 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Barclays currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 545.

Barclays Price Performance

The company has a market capitalization of £69.40 billion, a P/E ratio of 11.86, a PEG ratio of 1.15 and a beta of 0.88. The company has a 50 day moving average of GBX 476.61 and a 200-day moving average of GBX 456.78.

Barclays (LON:BARC) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 earnings per share (EPS) for the quarter. Barclays had a return on equity of 9.46% and a net margin of 17.81%.The company had revenue of GBX 816.30 billion for the quarter. Research analysts predict that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

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. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.