Barclays (LON:BARC) Hits New 52-Week High – Here’s Why

Shares of Barclays PLC (LON:BARC) reached a new 52-week high on Monday . The stock traded as high as GBX 408.75 and last traded at GBX 406.62, with a volume of 375917188 shares traded. The stock had previously closed at GBX 407.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BARC. Jefferies Financial Group lifted their target price on Barclays from GBX 455 to GBX 470 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Shore Capital reiterated a “buy” rating on shares of Barclays in a report on Wednesday, October 22nd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Barclays in a research note on Thursday, October 23rd. Citigroup upped their price target on shares of Barclays from GBX 400 to GBX 415 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 380 price target on shares of Barclays in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 445.83.

Barclays Stock Performance

The firm’s 50-day moving average is GBX 379.75 and its two-hundred day moving average is GBX 350.56. The stock has a market cap of £56.67 billion, a P/E ratio of 9.99, a PEG ratio of 1.15 and a beta of 1.36.

Barclays (LON:BARC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported GBX 10.40 EPS for the quarter. Barclays had a return on equity of 6.97% and a net margin of 19.54%. As a group, research analysts forecast that Barclays PLC will post 39.1062802 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anna Cross sold 753,438 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of GBX 373, for a total value of £2,810,323.74. 0.33% of the stock is owned by company 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.