Barclays PLC (LON:BARC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Barclays PLC (LON:BARC) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is GBX 575.

A number of research analysts have recently issued reports on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 620 target price on shares of Barclays in a research note on Wednesday, July 29th. Shore Capital Group reaffirmed a “buy” rating on shares of Barclays in a report on Tuesday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 550 price objective on shares of Barclays in a research report on Wednesday, August 12th. Citigroup boosted their price objective on Barclays from GBX 505 to GBX 510 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on Barclays from GBX 600 to GBX 610 and gave the stock an “overweight” rating in a report on Wednesday, July 29th.

Insider Buying and Selling

In other news, insider Julia Wilson acquired 2,033 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was purchased at an average cost of GBX 497 per share, with a total value of £10,104.01. Also, insider Brian Shea purchased 2,393 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of GBX 497 per share, with a total value of £11,893.21. In the last three months, insiders acquired 27,498 shares of company stock worth $13,666,506. 0.35% of the stock is currently owned by company insiders.

Key Barclays News

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays appointed Mike Joo and Adeel Khan as co-CEOs of its investment bank. The leadership change could support continuity and execution in a strategically important division, although the announcement does not include new financial targets. Barclays names Mike Joo and Adeel Khan investment bank co-CEOs
• Neutral Sentiment: Chief Executive C.S. Venkatakrishnan disclosed the transfer of more than 200,000 Barclays shares to charitable causes. Because the transaction is a charitable gift rather than an open-market disposal, it is unlikely to have a meaningful effect on Barclays’ fundamentals or valuation. Barclays CEO Gifts Over 200,000 Shares to Charitable Causes
• Neutral Sentiment: Barclays provided a new £33 million loan facility to Winvia Entertainment as part of the company’s refinancing. The deal demonstrates ongoing corporate-lending activity, but its size is small relative to Barclays’ balance sheet and is unlikely to move the stock. Winvia Entertainment Secures New Barclays Loan to Drive Prize Draw Growth

Barclays Stock Performance

Barclays stock opened at GBX 495.10 on Thursday. The business’s 50-day simple moving average is GBX 510.95 and its 200-day simple moving average is GBX 462.62. The firm has a market capitalization of £66.77 billion, a PE ratio of 10.25, a PEG ratio of 1.15 and a beta of 0.88. Barclays has a 52 week low of GBX 352.85 and a 52 week high of GBX 538.30.

Barclays (LON:BARC) last announced its earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share (EPS) for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. Research analysts forecast that Barclays will post 39.1062802 earnings per share for the current 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.