Barclays (LON:BARC) Sets New 52-Week High – Time to Buy?

Barclays PLC (LON:BARC)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as GBX 524.10 and last traded at GBX 523, with a volume of 311283125 shares traded. The stock had previously closed at GBX 515.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BARC. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 620 target price on shares of Barclays in a report on Wednesday, June 24th. Royal Bank Of Canada raised shares of Barclays to an “outperform” rating and increased their price target for the stock from GBX 550 to GBX 575 in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Barclays from GBX 590 to GBX 600 and gave the company an “overweight” rating in a research report on Friday, June 12th. Shore Capital Group restated a “buy” rating on shares of Barclays in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group lifted their price objective on Barclays from GBX 570 to GBX 590 and gave the company a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 545.

Barclays Stock Up 0.3%

The business has a fifty day simple moving average of GBX 460.88 and a 200 day simple moving average of GBX 453.72. The company has a market cap of £70.91 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.15 and a beta of 0.90.

Barclays (LON:BARC) last issued its earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 EPS for the quarter. Barclays had a net margin of 17.81% and a return on equity of 9.46%. The company had revenue of GBX 816.30 billion for the quarter. Equities analysts anticipate that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

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. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.