Barclays (LON:BARC) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Barclays PLC shares have surpassed their 200-day moving average, trading at GBX 371.20 ($5.01) on a high of GBX 372.30 ($5.03), signaling potential market momentum.
• Multiple analysts have set new price targets for Barclays, with Deutsche Bank at GBX 380 ($5.13) and Royal Bank of Canada increasing theirs to GBX 435 ($5.88), reflecting a generally positive outlook.
• Recent insider activity includes significant purchases of Barclays stock, with insiders acquiring a total of 98,837 shares valued at approximately $33.4 million in the last three months, indicating confidence in the company's future.

Barclays PLC (LON:BARC - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 315.32 ($4.23) and traded as high as GBX 372.30 ($5.00). Barclays shares last traded at GBX 371.20 ($4.98), with a volume of 19,996,572 shares traded.

Wall Street Analysts Forecast Growth

BARC has been the topic of several research analyst reports. Shore Capital boosted their target price on shares of Barclays from GBX 395 to GBX 410 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on Barclays from GBX 355 to GBX 435 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 380 price target on shares of Barclays in a research note on Wednesday, July 30th. Citigroup downgraded Barclays to a "neutral" rating and lifted their price target for the stock from GBX 360 to GBX 366 in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of Barclays in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 400.20.

Barclays Price Performance

The company has a 50-day simple moving average of GBX 348.93 and a two-hundred day simple moving average of GBX 316.69. The stock has a market capitalization of £54.05 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

Barclays (LON:BARC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported GBX 11.70 earnings per share for the quarter. Barclays had a return on equity of 6.97% and a net margin of 19.54%. Research analysts anticipate that Barclays PLC will post 39.1062802 EPS for the current year.

Insider Buying and Selling

In other Barclays news, insider Dawn Fitzpatrick purchased 2,999 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of GBX 371 per share, with a total value of £11,126.29. Also, insider Mary Francis bought 3,752 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of GBX 371 per share, with a total value of £13,919.92. In the last 90 days, insiders have purchased 98,837 shares of company stock valued at $33,407,827 and have sold 789,945 shares valued at $292,933,656. 1.47% of the stock is owned by company insiders.

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.