Barclays PLC (BARC.L) – What Are Brokerages Thinking About This Stock?

Barclays PLC (LON:BARC) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is GBX 576.67.

Several research firms recently issued reports on BARC. Berenberg Bank reiterated a “buy” rating and issued a GBX 620 price objective on shares of Barclays in a report on Thursday, September 3rd. Jefferies Financial Group increased their target price on Barclays from GBX 590 to GBX 600 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Citigroup lowered their target price on Barclays from GBX 510 to GBX 500 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 550 target price on shares of Barclays in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Barclays from GBX 610 to GBX 620 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th.

Barclays Stock Performance

LON:BARC opened at GBX 438.90 on Friday. The stock has a market capitalization of £58.60 billion, a P/E ratio of 9.09, a PEG ratio of 1.15 and a beta of 0.91. The company has a 50 day moving average price of GBX 481.98 and a 200 day moving average price of GBX 471.11. Barclays has a fifty-two week low of GBX 353.55 and a fifty-two week high of GBX 538.30.

Barclays (LON:BARC) last posted its earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share 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 39.11 earnings per share for the current fiscal year.

Key Headlines Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Buyback continues to reduce share count. Barclays has continued purchasing and cancelling its own shares, which can support earnings per share and provide demand for the stock. Barclays Tightens Share Count as Buy-Back Programme Advances
• Positive Sentiment: Barclays remains constructive on markets. Equity strategist Venu Krishna said the firm remains optimistic about the stock market next year. Although this is not a direct Barclays earnings update, a stronger market outlook could support the bank’s investment-banking, wealth-management and trading businesses. Barclays’ Venu Krishna: We Remain Optimistic About the Stock Market Next Year
• Neutral Sentiment: Most other headlines concern Barclays’ research activities, not its own fundamentals. Analyst commentary on Viking Holdings’ European river conditions, AeroVironment, air-taxi companies and memory-chip shortages does not materially change Barclays’ earnings outlook. Low River Levels in Europe Little Concern for Viking Holdings — Barclays
• Neutral Sentiment: Technical performance remains a concern. Barclays trades below its reported 50-day and 200-day moving averages, so investors may continue to view the stock cautiously despite its low valuation and buyback support.

Insider Transactions at Barclays

In other Barclays news, insider Nigel Higgins acquired 7,604 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of GBX 497 per share, for a total transaction of £37,791.88. Also, insider Brian Shea bought 2,393 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of GBX 497 per share, for a total transaction of £11,893.21. In the last ninety days, insiders have acquired 27,498 shares of company stock valued at $13,666,506. 0.34% of the stock is owned by corporate insiders.

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.