Citigroup Forecasts Strong Price Appreciation for Barclays (LON:BARC) Stock

Barclays (LON:BARC) had its price objective lifted by Citigroup from GBX 320 ($4.13) to GBX 350 ($4.52) in a report published on Thursday morning, Marketbeat reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on BARC. JPMorgan Chase & Co. raised their target price on shares of Barclays from GBX 360 ($4.65) to GBX 370 ($4.78) and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 350 ($4.52) target price on shares of Barclays in a report on Monday, February 24th. Finally, Shore Capital restated a “buy” rating on shares of Barclays in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Barclays currently has an average rating of “Buy” and a consensus price target of GBX 311.43 ($4.02).

Barclays Price Performance

Shares of LON BARC opened at GBX 302.91 ($3.91) on Thursday. Barclays has a one year low of GBX 168.04 ($2.17) and a one year high of GBX 316 ($4.08). The firm’s 50 day simple moving average is GBX 290.57 and its two-hundred day simple moving average is GBX 259.62. The stock has a market capitalization of £43.49 billion, a P/E ratio of 8.90, a PEG ratio of 1.15 and a beta of 1.36.

Barclays (LON:BARC) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported GBX 36 ($0.47) EPS for the quarter. Barclays had a net margin of 19.54% and a return on equity of 6.97%. As a group, equities analysts expect that Barclays will post 39.1062802 earnings per share for the current fiscal year.

Insider Activity at Barclays

In related news, insider Anna Cross sold 40,197 shares of Barclays stock in a transaction on Thursday, December 12th. The shares were sold at an average price of GBX 270 ($3.49), for a total value of £108,531.90 ($140,240.21). Also, insider Robert Berry acquired 3,028 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of GBX 294 ($3.80) per share, with a total value of £8,902.32 ($11,503.19). 1.47% of the stock is currently 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.