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

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

Separately, The Goldman Sachs Group began coverage on shares of Barclays in a research note on Tuesday, October 8th. They set a “buy” rating on the stock.

Barclays Price Performance

BCS stock opened at $14.28 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.67. The firm has a market cap of $51.51 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.38 and a beta of 1.41. The company’s fifty day simple moving average is $13.33 and its 200 day simple moving average is $12.44. Barclays has a 12-month low of $7.07 and a 12-month high of $14.29.

Barclays (NYSE:BCS) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.56 EPS for the quarter. Barclays had a return on equity of 6.30% and a net margin of 17.83%. The company had revenue of $8.52 billion for the quarter. During the same quarter in the previous year, the company earned $0.42 EPS. On average, analysts expect that Barclays will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Barclays

A number of institutional investors have recently modified their holdings of BCS. SG Americas Securities LLC bought a new stake in Barclays during the 4th quarter valued at $1,208,000. Ballentine Partners LLC increased its position in shares of Barclays by 11.3% during the fourth quarter. Ballentine Partners LLC now owns 30,879 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 3,136 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Barclays by 14.6% in the 4th quarter. Diversify Wealth Management LLC now owns 69,690 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 8,877 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position 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 acquiring an additional 4,120 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in Barclays during the 4th quarter worth approximately $138,000. 3.39% of the stock is owned by institutional investors and hedge funds.

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.