Barratt Developments Plc (BDEV) Upgraded to “Outperform” at Credit Suisse Group
Barratt Developments Plc (LON:BDEV) was upgraded by stock analysts at Credit Suisse Group to an “outperform” rating in a report issued on Friday. The brokerage presently 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 target price suggests a potential upside of 8.58% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Shore Capital reaffirmed a “sell” rating on shares of Barratt Developments Plc in a report on Wednesday, July 12th. Jefferies Group LLC increased their target price on shares of Barratt Developments Plc from GBX 706 ($9.36) to GBX 735 ($9.75) and gave the company a “buy” rating in a report on Monday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 717 ($9.51) target price on shares of Barratt Developments Plc in a report on Monday, September 4th. Liberum Capital reaffirmed a “sell” rating and issued a GBX 537 ($7.12) target price on shares of Barratt Developments Plc in a report on Friday, August 4th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 635 ($8.42) target price on shares of Barratt Developments Plc in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 649.07 ($8.61).
Barratt Developments Plc (LON:BDEV) opened at 646.50 on Friday. Barratt Developments Plc has a 52 week low of GBX 430.40 and a 52 week high of GBX 646.50. The company has a 50 day moving average price of GBX 609.32 and a 200 day moving average price of GBX 591.05. The stock’s market cap is GBX 6.51 billion.
In related news, insider David Thomas sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of GBX 591 ($7.84), for a total transaction 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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