StockNews.com Upgrades Barclays (NYSE:BCS) to Strong-Buy

Barclays (NYSE:BCS) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

A number of other analysts have also recently issued reports on BCS. The Goldman Sachs Group started coverage on shares of Barclays in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. Kepler Capital Markets began coverage on Barclays in a research note on Thursday, September 5th. They issued a “buy” rating for the company.

Barclays Price Performance

Shares of Barclays stock opened at $12.98 on Thursday. The stock’s fifty day moving average is $13.06 and its 200 day moving average is $12.06. Barclays has a one year low of $7.07 and a one year high of $13.83. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $46.83 billion, a P/E ratio of 8.83 and a beta of 1.41.

Barclays (NYSE:BCS) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter. The firm had revenue of $8.52 billion for the quarter. Barclays had a return on equity of 6.30% and a net margin of 17.83%. During the same period in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts anticipate that Barclays will post 1.85 earnings per share for the current year.

Hedge Funds Weigh In On Barclays

Several institutional investors have recently bought and sold shares of BCS. Acadian Asset Management LLC boosted its stake in Barclays by 1,362.1% during the second quarter. Acadian Asset Management LLC now owns 19,682,115 shares of the financial services provider’s stock valued at $210,762,000 after buying an additional 18,335,937 shares during the last quarter. FMR LLC boosted its position in shares of Barclays by 11.6% during the 3rd quarter. FMR LLC now owns 6,432,007 shares of the financial services provider’s stock valued at $78,149,000 after acquiring an additional 667,498 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Barclays in the third quarter valued at $52,335,000. Raymond James & Associates increased its position in Barclays by 11.9% in the third quarter. Raymond James & Associates now owns 4,007,379 shares of the financial services provider’s stock worth $48,690,000 after purchasing an additional 426,815 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Barclays by 190.9% during the second quarter. Renaissance Technologies LLC now owns 3,661,086 shares of the financial services provider’s stock valued at $39,210,000 after purchasing an additional 2,402,500 shares in the last quarter. 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.