Barclays (NYSE:BCS) Cut to “Buy” at StockNews.com

Barclays (NYSE:BCS) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, The Goldman Sachs Group assumed coverage on shares of Barclays in a research note on Tuesday, October 8th. They issued a “buy” rating for the company.

Barclays Stock Performance

Shares of BCS traded down $0.04 on Thursday, reaching $14.01. 24,295,547 shares of the company’s stock traded hands, compared to its average volume of 17,206,365. The stock’s 50 day simple moving average is $13.29 and its two-hundred day simple moving average is $12.41. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.67. Barclays has a 52-week low of $7.07 and a 52-week high of $14.07. The stock has a market cap of $50.53 billion, a PE ratio of 9.53, a PEG ratio of 0.38 and a beta of 1.41.

Barclays (NYSE:BCS) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter. The business 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 in the prior year, the business earned $0.42 earnings per share. On average, analysts forecast that Barclays will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in Barclays during the 3rd quarter worth approximately $52,335,000. Natixis Advisors LLC grew its position in shares of Barclays by 286.1% during the 3rd quarter. Natixis Advisors LLC now owns 3,565,033 shares of the financial services provider’s stock valued at $43,315,000 after purchasing an additional 2,641,608 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Barclays by 190.9% in the second quarter. Renaissance Technologies LLC now owns 3,661,086 shares of the financial services provider’s stock worth $39,210,000 after purchasing an additional 2,402,500 shares during the period. Sei Investments Co. raised its position in shares of Barclays by 118.7% in the second quarter. Sei Investments Co. now owns 2,709,312 shares of the financial services provider’s stock worth $29,017,000 after buying an additional 1,470,523 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its stake in Barclays by 97.4% during the second quarter. Duquesne Family Office LLC now owns 2,075,455 shares of the financial services provider’s stock valued at $22,228,000 after buying an additional 1,024,100 shares during the period. Hedge funds and other institutional investors own 3.39% of the company’s stock.

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.