Barclays (NYSE:BCS) Lowered to Buy Rating by StockNews.com

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

A number of other equities analysts have also commented on the company. The Goldman Sachs Group initiated coverage on Barclays in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Kepler Capital Markets began coverage on Barclays in a research report on Thursday, September 5th. They set a “buy” rating on the stock.

Barclays Price Performance

Shares of NYSE BCS opened at $13.34 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.67. The stock has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $11.78. Barclays has a 1-year low of $7.02 and a 1-year high of $13.57. The firm has a market cap of $48.31 billion, a price-to-earnings ratio of 9.07 and a beta of 1.41.

Barclays (NYSE:BCS) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter. The company had revenue of $8.52 billion during the quarter. Barclays had a return on equity of 6.30% and a net margin of 17.83%. During the same period last year, the business posted $0.42 EPS. Analysts anticipate that Barclays will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Barclays

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCS. Diversified Trust Co purchased a new position in shares of Barclays during the second quarter worth about $559,000. Bayesian Capital Management LP purchased a new stake in shares of Barclays during the 1st quarter valued at $947,000. QRG Capital Management Inc. lifted its holdings in shares of Barclays by 12.0% during the 2nd quarter. QRG Capital Management Inc. now owns 537,725 shares of the financial services provider’s stock worth $5,759,000 after acquiring an additional 57,607 shares during the last quarter. Raymond James & Associates grew 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 acquiring an additional 426,815 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Barclays by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 159,804 shares of the financial services provider’s stock valued at $1,510,000 after acquiring an additional 4,873 shares during the last quarter. 3.39% of the stock is currently 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.