Barclays (BCS) Stock Rating Upgraded by Zacks Investment Research

Barclays (NYSE:BCS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Barclays' shares on NYSE have underperformed the industry over the past six months. Also, the company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. It has been facing pressure on revenues owing to weak capital market performance, low interest rates and uncertainty related to Brexit. Further, the U.S. tax act will result in a one-time charge of $1.3 billion in the fourth quarter, thereby hurting the bank's profitability in 2017. However, the bank's restructuring and business simplifying efforts have ended successfully and will likely continue to result in decrease in expenses. Also, the gradually improving profitability is expected to lead to enhanced capital deployment activities.”

A number of other research firms also recently issued reports on BCS. ValuEngine raised Barclays from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Goldman Sachs Group reissued a “sell” rating on shares of Barclays in a research report on Tuesday, December 5th. UBS Group reissued a “buy” rating on shares of Barclays in a research report on Monday, December 11th. Macquarie raised Barclays from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 29th. Finally, Bank of America raised Barclays from an “underperform” rating to a “buy” rating in a research report on Monday, November 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Barclays presently has an average rating of “Hold” and a consensus price target of $11.25.

Shares of Barclays (BCS) traded down $0.04 during trading on Tuesday, reaching $10.99. The company had a trading volume of 2,093,100 shares, compared to its average volume of 2,286,250. The company has a market capitalization of $47,320.00, a price-to-earnings ratio of 17.73, a P/E/G ratio of 0.56 and a beta of 0.95. Barclays has a 1-year low of $9.29 and a 1-year high of $11.96. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 3.78.

A number of large investors have recently added to or reduced their stakes in the business. Park National Corp OH purchased a new position in shares of Barclays in the third quarter valued at $109,000. HPM Partners LLC grew its position in shares of Barclays by 1.8% in the second quarter. HPM Partners LLC now owns 11,545 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 203 shares in the last quarter. Well Done LLC purchased a new position in shares of Barclays in the third quarter valued at $130,000. ACG Wealth purchased a new position in shares of Barclays in the third quarter valued at $130,000. Finally, Strategic Global Advisors LLC grew its position in shares of Barclays by 0.6% in the second quarter. Strategic Global Advisors LLC now owns 16,415 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 94 shares in the last quarter. 2.47% of the stock is owned by institutional investors and hedge funds.

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