StockNews.com Downgrades Barclays (NYSE:BCS) to Buy

StockNews.com cut shares of Barclays (NYSE:BCS) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Other research analysts have also issued reports about the stock. Kepler Capital Markets assumed coverage on shares of Barclays in a research note on Thursday, September 5th. They issued a “buy” rating for the company. The Goldman Sachs Group assumed coverage on Barclays in a research report on Tuesday, October 8th. They issued a “buy” rating for the company.

Barclays Stock Performance

Shares of BCS opened at $13.55 on Wednesday. The stock has a 50 day moving average of $12.96 and a 200 day moving average of $11.99. The company has a market capitalization of $48.87 billion, a price-to-earnings ratio of 9.23 and a beta of 1.41. Barclays has a 12 month low of $7.07 and a 12 month high of $13.83. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.67.

Barclays (NYSE:BCS) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter. Barclays had a net margin of 17.83% and a return on equity of 6.30%. The firm had revenue of $8.52 billion during the quarter. During the same period in the prior year, the company earned $0.42 earnings per share. As a group, sell-side analysts forecast that Barclays will post 1.85 earnings per share for the current year.

Hedge Funds Weigh In On Barclays

A number of large investors have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new stake in Barclays in the 2nd quarter worth approximately $30,000. Symphony Financial Ltd. Co. purchased a new stake in Barclays in the third quarter worth $42,000. Hexagon Capital Partners LLC increased its position in Barclays by 32.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,132 shares during the period. Blue Trust Inc. raised its holdings in Barclays by 452.5% in the 2nd quarter. Blue Trust Inc. now owns 6,304 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 5,163 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Barclays by 42.6% in the 3rd quarter. GAMMA Investing LLC now owns 9,280 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,774 shares during the period. 3.39% of the stock is owned by hedge funds and other institutional investors.

About Barclays

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.