Barclays (LON:BARC) Sets New 52-Week High on Analyst Upgrade

Barclays PLC (LON:BARC) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from GBX 240 to GBX 270. JPMorgan Chase & Co. currently has an overweight rating on the stock. Barclays traded as high as GBX 224.60 ($2.84) and last traded at GBX 222.80 ($2.82), with a volume of 172450781 shares changing hands. The stock had previously closed at GBX 218.15 ($2.76).

Several other research firms also recently weighed in on BARC. Jefferies Financial Group reissued a “buy” rating and issued a GBX 335 ($4.24) price target on shares of Barclays in a research note on Tuesday, May 21st. Peel Hunt assumed coverage on shares of Barclays in a research note on Friday, April 19th. They issued a “buy” rating and a GBX 245 ($3.10) price target on the stock. Berenberg Bank reissued a “buy” rating and issued a GBX 280 ($3.54) price target on shares of Barclays in a research note on Thursday, May 16th. Shore Capital reissued a “buy” rating on shares of Barclays in a research note on Wednesday, June 19th. Finally, Royal Bank of Canada cut their price objective on shares of Barclays from GBX 260 ($3.29) to GBX 250 ($3.16) and set an “outperform” rating for the company in a research report on Thursday, June 13th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 276 ($3.49).

Insider Activity at Barclays

In related news, insider Anna Cross sold 53,422 shares of Barclays stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of GBX 203 ($2.57), for a total value of £108,446.66 ($137,170.07). Company insiders own 1.43% of the company’s stock.

Barclays Trading Up 2.8 %

The company has a market capitalization of £33.54 billion, a price-to-earnings ratio of 862.88, a PEG ratio of -1.09 and a beta of 1.35. The firm’s 50 day simple moving average is GBX 211.31 and its 200-day simple moving average is GBX 180.31.

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.