Barratt Developments (LON:BDEV) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Barratt Developments (LON:BDEV) to an overweight rating in a research report sent to investors on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has GBX 560 ($6.97) price target on the real estate development company’s stock, up from their prior price target of GBX 370 ($4.61).

Several other research analysts have also weighed in on the stock. Berenberg Bank reissued a hold rating and set a GBX 488 ($6.07) price objective on shares of Barratt Developments in a report on Wednesday, February 7th. Citigroup raised shares of Barratt Developments to a buy rating and set a GBX 615 ($7.66) target price for the company in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Barratt Developments presently has a consensus rating of Moderate Buy and an average price target of GBX 514.63 ($6.41).

Barratt Developments Stock Down 0.4 %

Shares of LON BDEV opened at GBX 458.30 ($5.71) on Friday. Barratt Developments has a 1 year low of GBX 384.15 ($4.78) and a 1 year high of GBX 582.60 ($7.25). The firm’s 50 day moving average price is GBX 474.60 and its 200 day moving average price is GBX 487.32. The firm has a market cap of £4.47 billion, a P/E ratio of 2,083.18, a price-to-earnings-growth ratio of -1.65 and a beta of 1.56. The company has a debt-to-equity ratio of 4.52, a quick ratio of 0.93 and a current ratio of 4.92.

Barratt Developments Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 11th will be issued a GBX 4.40 ($0.05) dividend. This represents a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, April 11th. Barratt Developments’s payout ratio is 12,727.27%.

About Barratt Developments

Barratt Developments plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.