Barclays PLC (BCS) Upgraded to Buy by Zacks Investment Research
Barclays PLC (NYSE:BCS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $11.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.80% from the company’s previous close.
According to Zacks, “Barclays' shares on NYSE have significantly underperformed the industry over the last six months. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Also, the company has been facing pressure on revenues owing to weak global economic recovery and uncertainty related to Brexit. However, the bank's restructuring and simplifying efforts ended successfully leading to the closure of the Non-Core division and continued decline in expenses. A strong balance sheet position is another positive for the company.”
BCS has been the topic of a number of other research reports. BidaskClub downgraded Barclays PLC from a “hold” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine raised Barclays PLC from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Barclays PLC in a report on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating on shares of Barclays PLC in a report on Monday, August 14th. Finally, BNP Paribas downgraded Barclays PLC from an “outperform” rating to a “neutral” rating in a report on Thursday, October 5th. Eight analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Barclays PLC has a consensus rating of “Hold” and a consensus price target of $10.24.
Barclays PLC (NYSE BCS) traded up 1.92% during trading on Tuesday, hitting $10.11. 1,433,198 shares of the company traded hands. The company’s 50 day moving average is $10.04 and its 200-day moving average is $10.56. The stock’s market capitalization is $43.10 billion. Barclays PLC has a 52 week low of $8.02 and a 52 week high of $12.05.
Barclays PLC (NYSE:BCS) last issued its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Barclays PLC had a negative net margin of 2.65% and a positive return on equity of 2.57%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.22 billion. Analysts predict that Barclays PLC will post $0.86 earnings per share for the current year.
In related news, major shareholder Plc Barclays sold 260 shares of Barclays PLC stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $100,000.00, for a total value of $26,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.02% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp boosted its position in shares of Barclays PLC by 35.0% in the first quarter. M&T Bank Corp now owns 21,270 shares of the financial services provider’s stock worth $240,000 after buying an additional 5,513 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Barclays PLC in the first quarter worth $858,000. Dimensional Fund Advisors LP boosted its position in shares of Barclays PLC by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 11,929,971 shares of the financial services provider’s stock worth $134,093,000 after buying an additional 550,996 shares during the period. MAVEN SECURITIES Ltd acquired a new stake in shares of Barclays PLC in the first quarter worth $647,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Barclays PLC in the first quarter worth $2,269,000. Institutional investors and hedge funds own 2.47% of the company’s stock.
About Barclays PLC
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