Barclays (LON:BARC) Stock Passes Above 200 Day Moving Average – Here’s Why

Barclays PLC (LON:BARC)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 265.15 ($3.43) and traded as high as GBX 305.80 ($3.95). Barclays shares last traded at GBX 303.60 ($3.92), with a volume of 34,810,391 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Shore Capital restated a “buy” rating on shares of Barclays in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 350 ($4.52) price target on shares of Barclays in a research note on Monday, February 24th. Citigroup lifted their price target on shares of Barclays from GBX 320 ($4.13) to GBX 350 ($4.52) and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Barclays from GBX 360 ($4.65) to GBX 370 ($4.78) and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 311.43 ($4.02).

Barclays Trading Up 2.1 %

The company’s fifty day moving average is GBX 297.10 and its 200-day moving average is GBX 265.15. The firm has a market capitalization of £43.59 billion, a P/E ratio of 8.92, a P/E/G ratio of 1.15 and a beta of 1.36.

Barclays (LON:BARC) last released its earnings results on Thursday, February 13th. The financial services provider reported GBX 36 ($0.47) earnings per share for the quarter. Barclays had a net margin of 19.54% and a return on equity of 6.97%. On average, equities research analysts anticipate that Barclays PLC will post 39.1062802 EPS for the current year.

Insider Buying and Selling at Barclays

In other news, insider Robert Berry acquired 3,028 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of GBX 294 ($3.80) per share, with a total value of £8,902.32 ($11,503.19). Also, insider C.S. Venkatakrishnan sold 185,862 shares of Barclays stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of GBX 292 ($3.77), for a total transaction of £542,717.04 ($701,275.41). Company insiders own 1.47% of the company’s stock.

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.