Barratt Developments Plc (LON:BDEV) was upgraded by research analysts at Credit Suisse Group to an “outperform” rating in a report released on Friday. The brokerage currently has a GBX 702 ($9.31) target price on the real estate development company’s stock, up from their previous target price of GBX 578 ($7.67). Credit Suisse Group’s price target indicates a potential upside of 7.01% from the company’s previous close.
Several other research analysts have also commented on the stock. Shore Capital restated a “sell” rating on shares of Barratt Developments Plc in a report on Wednesday, July 12th. Jefferies Group LLC upped their price objective on shares of Barratt Developments Plc from GBX 706 ($9.36) to GBX 735 ($9.75) and gave the stock a “buy” rating in a report on Monday, June 26th. Deutsche Bank AG restated a “buy” rating and issued a GBX 717 ($9.51) price objective on shares of Barratt Developments Plc in a report on Monday, September 4th. Liberum Capital restated a “sell” rating and issued a GBX 537 ($7.12) price objective on shares of Barratt Developments Plc in a report on Friday, August 4th. Finally, Peel Hunt restated a “hold” rating and issued a GBX 635 ($8.42) price objective on shares of Barratt Developments Plc in a report on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of GBX 649.07 ($8.61).
Shares of Barratt Developments Plc (LON:BDEV) opened at 656.00 on Friday. Barratt Developments Plc has a 1-year low of GBX 430.40 and a 1-year high of GBX 660.13. The firm has a 50-day moving average of GBX 610.53 and a 200 day moving average of GBX 591.51. The company’s market capitalization is GBX 6.60 billion.
In related news, insider David Thomas sold 400,000 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of GBX 591 ($7.84), for a total value of £2,364,000 ($3,135,694.39).
Barratt Developments Plc Company Profile
Barratt Developments PLC is a holding company. The Company is principally engaged in acquiring and developing land, planning, designing and constructing residential property developments and selling the homes, which it builds throughout Britain. The Company operates in two segments: Housebuilding and Commercial developments.
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