Berkeley Group Holdings PLC (BKG) Reaches New 1-Year High After Analyst Upgrade
Berkeley Group Holdings PLC (LON:BKG) reached a new 52-week high during mid-day trading on Monday after J P Morgan Chase & Co raised their price target on the stock from GBX 3,600 to GBX 4,000. J P Morgan Chase & Co currently has an overweight rating on the stock. Berkeley Group Holdings PLC traded as high as GBX 3,819 ($50.66) and last traded at GBX 3,762 ($49.90), with a volume of 704,380 shares trading hands. The stock had previously closed at GBX 3,717 ($49.30).
Several other research firms have also recently weighed in on BKG. Deutsche Bank AG reiterated a “buy” rating and set a GBX 3,604 ($47.80) price objective on shares of Berkeley Group Holdings PLC in a research report on Tuesday, June 13th. Peel Hunt reissued a “buy” rating and set a GBX 4,390 ($58.23) target price on shares of Berkeley Group Holdings PLC in a research note on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and issued a GBX 3,958 ($52.50) target price on shares of Berkeley Group Holdings PLC in a report on Monday, June 26th. Canaccord Genuity increased their target price on Berkeley Group Holdings PLC from GBX 3,530 ($46.82) to GBX 3,600 ($47.75) and gave the company a “buy” rating in a report on Thursday, June 22nd. Finally, HSBC Holdings plc raised their target price on Berkeley Group Holdings PLC from GBX 3,481 ($46.17) to GBX 3,789 ($50.26) and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Berkeley Group Holdings PLC has a consensus rating of “Hold” and a consensus price target of GBX 3,616 ($47.96).
In other news, insider Richard Stearn sold 10,030 shares of Berkeley Group Holdings PLC stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of GBX 3,754 ($49.79), for a total transaction of £376,526.20 ($499,437.86). Also, insider Robert C. G. Perrins sold 500,000 shares of Berkeley Group Holdings PLC stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of GBX 3,575 ($47.42), for a total value of £17,875,000 ($23,710,041.12). Over the last ninety days, insiders sold 510,930 shares of company stock worth $1,828,371,020.
The stock’s market capitalization is GBX 5.17 billion. The company’s 50 day moving average is GBX 3,640.36 and its 200 day moving average is GBX 3,383.19.
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Berkeley Group Holdings PLC Company Profile
The Berkeley Group Holdings plc is a holding company. The Company, along with its subsidiaries, is engaged in residential-led, mixed-use property development. Its segments include Residential-led mixed-use development and Other activities. Its brands include Berkeley, which creates medium to large-scale developments in towns, cities and the countryside, encompassing executive homes, mixed use schemes, riverside apartments, refurbished historic buildings and urban loft spaces; St George, which is involved in mixed use sustainable regeneration in London; St James, which handles projects that embrace private residential development, commercial property, recreational and community facilities; St Edward, which offers residentially led developments, and St William.
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