Barratt Developments plc’s (BDEV) “Sell” Rating Reiterated at Liberum Capital
Liberum Capital restated their sell rating on shares of Barratt Developments plc (LON:BDEV) in a report published on Wednesday. The firm currently has a GBX 537 ($7.06) price objective on the real estate development company’s stock.
A number of other brokerages have also issued reports on BDEV. Deutsche Bank AG reiterated a buy rating on shares of Barratt Developments plc in a research note on Monday, August 14th. Bank of America Corporation increased their price target on Barratt Developments plc from GBX 460 ($6.05) to GBX 500 ($6.58) and gave the stock an underperform rating in a research note on Tuesday, September 12th. Credit Suisse Group reiterated an outperform rating and issued a GBX 702 ($9.23) price target on shares of Barratt Developments plc in a research note on Thursday, October 26th. Peel Hunt reiterated a hold rating and issued a GBX 635 ($8.35) price target on shares of Barratt Developments plc in a research note on Wednesday, September 6th. Finally, Barclays PLC cut their price objective on Barratt Developments plc from GBX 712 ($9.36) to GBX 710 ($9.34) and set an overweight rating for the company in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of GBX 660.29 ($8.68).
Shares of Barratt Developments plc (LON BDEV) opened at GBX 627 ($8.25) on Wednesday. Barratt Developments plc has a 12 month low of GBX 450.60 ($5.93) and a 12 month high of GBX 705.50 ($9.28).
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The business also recently declared a dividend, which will be paid on Monday, November 20th. Investors of record on Thursday, October 26th will be given a GBX 34.40 ($0.45) dividend. The ex-dividend date is Thursday, October 26th. This represents a yield of 5.74%. This is a positive change from Barratt Developments plc’s previous dividend of $7.30.
In related news, insider Jessica White sold 4,110 shares of Barratt Developments plc stock in a transaction dated Friday, October 20th. The stock was sold at an average price of GBX 694 ($9.13), for a total value of £28,523.40 ($37,515.98). Also, insider David Thomas sold 400,000 shares of Barratt Developments plc stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of GBX 591 ($7.77), for a total value of £2,364,000 ($3,109,298.96). In the last quarter, insiders sold 440,997 shares of company stock valued at $263,319,551.
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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