Barratt Developments’ (BDEV) “Buy” Rating Reaffirmed at Berenberg Bank
Berenberg Bank reaffirmed their buy rating on shares of Barratt Developments (LON:BDEV) in a research note issued to investors on Friday morning. They currently have a GBX 650 ($8.49) target price on the real estate development company’s stock.
A number of other brokerages also recently issued reports on BDEV. UBS Group reissued a buy rating on shares of Barratt Developments in a research note on Monday. Liberum Capital downgraded Barratt Developments to a hold rating and boosted their price objective for the company from GBX 500 ($6.53) to GBX 540 ($7.06) in a research note on Monday. Canaccord Genuity reissued a buy rating and issued a GBX 570 ($7.45) price objective on shares of Barratt Developments in a research note on Wednesday, February 6th. Shore Capital reissued a buy rating on shares of Barratt Developments in a research note on Wednesday, February 6th. Finally, Citigroup reissued a buy rating on shares of Barratt Developments in a research note on Friday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Barratt Developments presently has an average rating of Buy and an average target price of GBX 642.08 ($8.39).
Shares of LON:BDEV traded up GBX 11.20 ($0.15) during midday trading on Friday, reaching GBX 574.20 ($7.50). The company’s stock had a trading volume of 4,208,900 shares, compared to its average volume of 4,890,000. Barratt Developments has a fifty-two week low of GBX 6.26 ($0.08) and a fifty-two week high of GBX 705.50 ($9.22).
The company also recently announced a dividend, which will be paid on Tuesday, May 7th. Investors of record on Thursday, April 11th will be given a GBX 9.60 ($0.13) dividend. This represents a yield of 1.71%. The ex-dividend date is Thursday, April 11th.
In other news, insider John Allan bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was acquired at an average cost of GBX 480 ($6.27) per share, with a total value of £48,000 ($62,720.50).
About Barratt Developments
Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs residential properties, including apartments, penthouses, and communities; and develops and sells homes. The company offers homes under the Barratt Homes, David Wilson Homes, and Barratt London brands.
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