Shore Capital Issues Positive Forecast for Barclays (LON:BARC) Stock Price

Key Points

• Shore Capital has raised its price target for Barclays from GBX 395 to GBX 410, maintaining a "buy" rating which suggests a potential upside of 11.11% from the previous close.
• Other brokerages such as Royal Bank of Canada and Citigroup have also revised their price targets with ratings ranging from "outperform" to "neutral," indicating varied analyst sentiment on Barclays' stock.
• Insider trading activity includes purchases by Anna Cross and C.S. Venkatakrishnan, totaling significant investments at an average price of GBX 326 per share.

Barclays (LON:BARC - Get Free Report) had its price target boosted by equities research analysts at Shore Capital from GBX 395 ($5.24) to GBX 410 ($5.44) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Shore Capital's price target would indicate a potential upside of 9.84% from the stock's current price.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada lifted their price target on Barclays from GBX 340 ($4.51) to GBX 355 ($4.71) and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Citigroup lowered Barclays to a "neutral" rating and lifted their price target for the stock from GBX 360 ($4.77) to GBX 366 ($4.85) in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of GBX 384.20 ($5.09).

Barclays Trading Up 0.6%

BARC traded up GBX 2.06 ($0.03) on Tuesday, hitting GBX 373.26 ($4.95). 36,062,031 shares of the company's stock traded hands, compared to its average volume of 47,204,285. Barclays has a one year low of GBX 196.44 ($2.60) and a one year high of GBX 375.15 ($4.97). The company's 50 day simple moving average is GBX 335.16 and its 200-day simple moving average is GBX 307.75. The firm has a market cap of £53.59 billion, a price-to-earnings ratio of 10.97, a P/E/G 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 ($0.16) earnings per share for the quarter. Barclays had a return on equity of 6.97% and a net margin of 19.54%. As a group, equities analysts anticipate that Barclays will post 39.1062802 EPS for the current fiscal year.

Insider Buying and Selling at Barclays

In other news, insider C.S. Venkatakrishnan sold 23,395 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of GBX 326 ($4.32), for a total transaction of £76,267.70 ($101,123.97). Also, insider Anna Cross sold 13,112 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of GBX 326 ($4.32), for a total transaction of £42,745.12 ($56,676.11). 1.47% of the stock is owned by corporate 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.