Barclays (NYSE:BCS) Hits New 12-Month High – Time to Buy?

Barclays PLC (NYSE:BCS)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.64 and last traded at $17.60, with a volume of 2898223 shares traded. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

BCS has been the topic of several research reports. BNP Paribas upgraded Barclays from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 4th. StockNews.com cut Barclays from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

Barclays Stock Performance

The company’s fifty day moving average is $15.50 and its 200 day moving average is $14.56. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 5.33. The company has a market capitalization of $63.62 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.39 and a beta of 1.10.

Barclays (NYSE:BCS) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Barclays had a return on equity of 7.74% and a net margin of 20.81%. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $8.37 billion. As a group, equities analysts anticipate that Barclays PLC will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BCS. Brooklyn Investment Group bought a new position in shares of Barclays in the fourth quarter valued at approximately $26,000. HB Wealth Management LLC purchased a new stake in Barclays in the 4th quarter worth approximately $138,000. Aaron Wealth Advisors LLC boosted its holdings in Barclays by 15.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 30,880 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 4,120 shares during the period. Diversify Wealth Management LLC grew its position in shares of Barclays by 14.6% during the 4th quarter. Diversify Wealth Management LLC now owns 69,690 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 8,877 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Barclays by 11.3% during the 4th quarter. Ballentine Partners LLC now owns 30,879 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 3,136 shares in the last quarter. Hedge funds and other institutional investors own 3.39% of the company’s stock.

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.