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

Barclays PLC (LON:BARC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 238.08 ($2.93) and traded as high as GBX 266.10 ($3.27). Barclays shares last traded at GBX 263.73 ($3.25), with a volume of 78,369,109 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BARC shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 350 ($4.31) price target on shares of Barclays in a research note on Wednesday, December 11th. Shore Capital reiterated a “buy” rating on shares of Barclays in a research note on Thursday, October 24th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 292 ($3.59).

Barclays Price Performance

The stock’s fifty day simple moving average is GBX 261.63 and its 200-day simple moving average is GBX 238.08. The stock has a market cap of £38.55 billion, a P/E ratio of 1,021.73, a PEG ratio of 1.15 and a beta of 1.36.

Insiders Place Their Bets

In other news, insider Brian Gilvary sold 109,404 shares of Barclays stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of GBX 249 ($3.06), for a total transaction of £272,415.96 ($335,198.67). Also, insider Anna Cross sold 40,197 shares of Barclays stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of GBX 270 ($3.32), for a total value of £108,531.90 ($133,544.85). 1.47% of the stock is currently owned by corporate insiders.

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.