Vetr Inc. Downgrades Barclays PLC (BCS) to Strong Sell
Barclays PLC (NYSE:BCS) was downgraded by research analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday. They presently have a $8.22 price objective on the financial services provider’s stock. Vetr‘s price target suggests a potential downside of 18.69% from the stock’s current price.
A number of other brokerages have also recently weighed in on BCS. Zacks Investment Research cut shares of Barclays PLC from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Citigroup Inc. reissued a “sell” rating on shares of Barclays PLC in a research report on Wednesday, August 31st. Deutsche Bank AG reissued a “hold” rating on shares of Barclays PLC in a research report on Friday, September 16th. Investec raised shares of Barclays PLC from a “sell” rating to a “buy” rating in a research report on Thursday, August 25th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Barclays PLC in a research report on Thursday, October 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.71.
Barclays PLC (NYSE:BCS) opened at 10.11 on Wednesday. The firm’s market capitalization is $60.27 billion. The firm’s 50-day moving average is $8.83 and its 200 day moving average is $8.95. Barclays PLC has a 52-week low of $6.76 and a 52-week high of $14.13.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Barclays PLC during the first quarter valued at $30,217,000. SG Americas Securities LLC raised its position in shares of Barclays PLC by 404.1% in the second quarter. SG Americas Securities LLC now owns 2,203,032 shares of the financial services provider’s stock worth $16,743,000 after buying an additional 1,765,971 shares during the period. Fisher Asset Management LLC raised its position in shares of Barclays PLC by 7.5% in the second quarter. Fisher Asset Management LLC now owns 23,244,449 shares of the financial services provider’s stock worth $178,285,000 after buying an additional 1,630,534 shares during the period. Brigade Capital Management LP bought a new position in shares of Barclays PLC during the second quarter worth approximately $7,600,000. Finally, Conning Inc. bought a new position in shares of Barclays PLC during the second quarter worth approximately $994,000. Institutional investors own 2.71% of the company’s stock.
Barclays PLC Company Profile
Barclays PLC is a global financial services holding company. The Company is engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company’s segments include Barclays UK and Barclays Corporate & International. The Barclays UK segment incorporates the UK Personal, small UK Corporate and UK Wealth businesses, and the Barclaycard UK consumer credit cards business.
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