Barratt Developments (LON:BDEV) had its price objective raised by investment analysts at Berenberg Bank from GBX 800 ($10.52) to GBX 890 ($11.71) in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the real estate development company’s stock. Berenberg Bank’s price target points to a potential upside of 2.23% from the company’s current price.
Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price target on Barratt Developments from GBX 675 ($8.88) to GBX 790 ($10.39) and gave the company an “overweight” rating in a research report on Friday, January 10th. Shore Capital reissued a “sell” rating on shares of Barratt Developments in a research report on Wednesday, October 16th. Canaccord Genuity upped their price target on Barratt Developments from GBX 660 ($8.68) to GBX 820 ($10.79) and gave the company a “buy” rating in a research report on Tuesday, January 7th. UBS Group reissued a “buy” rating and set a GBX 880 ($11.58) price target (up from GBX 860 ($11.31)) on shares of Barratt Developments in a research report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price target on Barratt Developments from GBX 696 ($9.16) to GBX 793 ($10.43) and gave the company a “hold” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Barratt Developments has an average rating of “Hold” and a consensus price target of GBX 789.58 ($10.39).
BDEV stock opened at GBX 870.60 ($11.45) on Thursday. The company has a current ratio of 3.84, a quick ratio of 0.55 and a debt-to-equity ratio of 5.18. The firm has a market cap of $8.87 billion and a P/E ratio of 11.88. Barratt Developments has a 12-month low of GBX 535.60 ($7.05) and a 12-month high of GBX 979.54 ($12.89). The stock’s 50 day simple moving average is GBX 789.29 and its 200 day simple moving average is GBX 687.65.
In related news, insider Steven J. Boyes sold 435,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of GBX 842 ($11.08), for a total transaction of £3,662,700 ($4,818,074.19).
Barratt Developments Company Profile
Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs residential properties, including apartments, penthouses, and communities; and develops and sells homes. The company offers homes under the Barratt Homes, David Wilson Homes, and Barratt London brands.
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