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 research report issued to clients and investors on Thursday.

A number of other brokerages have also issued reports on BCS. Kepler Capital Markets assumed coverage on shares of Barclays in a research report on Thursday, September 5th. They set a “buy” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Barclays in a research report on Tuesday, October 8th. They set a “buy” rating on the stock.

Barclays Trading Up 1.9 %

Shares of Barclays stock opened at $13.20 on Thursday. The company has a fifty day simple moving average of $12.38 and a 200-day simple moving average of $11.63. Barclays has a 12-month low of $6.91 and a 12-month high of $13.57. 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 market cap of $48.05 billion, a price-to-earnings ratio of 8.95 and a beta of 1.41.

Barclays (NYSE:BCS) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter. Barclays had a net margin of 17.83% and a return on equity of 6.30%. The company had revenue of $8.52 billion during the quarter. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities analysts forecast that Barclays will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Barclays

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sage Mountain Advisors LLC lifted its holdings in shares of Barclays by 7.7% in the 2nd quarter. Sage Mountain Advisors LLC now owns 11,767 shares of the financial services provider’s stock valued at $126,000 after buying an additional 838 shares during the period. M&T Bank Corp lifted its holdings in Barclays by 4.7% in the third quarter. M&T Bank Corp now owns 20,568 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 918 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Barclays by 10.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 11,826 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,075 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Barclays by 32.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,132 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Barclays by 6.9% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 17,565 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 1,137 shares during the period. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

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.