Barratt Developments (LON:BDEV) was downgraded by equities researchers at Peel Hunt to a “hold” rating in a research note issued on Thursday. They currently have a GBX 670 ($9.09) price target on the real estate development company’s stock. Peel Hunt’s price objective would suggest a potential upside of 7.86% from the stock’s previous close.
A number of other brokerages have also issued reports on BDEV. Credit Suisse Group reissued an “outperform” rating and issued a GBX 702 ($9.52) target price on shares of Barratt Developments in a research report on Thursday, October 26th. Barclays cut their target price on Barratt Developments from GBX 712 ($9.66) to GBX 710 ($9.63) and set an “overweight” rating on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 650 ($8.81) target price on shares of Barratt Developments in a research report on Monday, January 8th. Liberum Capital boosted their target price on Barratt Developments from GBX 537 ($7.28) to GBX 575 ($7.80) and gave the company a “sell” rating in a research report on Wednesday, January 3rd. Finally, Shore Capital reissued a “sell” rating on shares of Barratt Developments in a research report on Wednesday, November 8th. Three 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 company. The company currently has an average rating of “Hold” and an average target price of GBX 666.36 ($9.04).
Shares of Barratt Developments (LON BDEV) traded up GBX 4.20 ($0.06) during midday trading on Thursday, reaching GBX 621.20 ($8.42). The company’s stock had a trading volume of 4,856,410 shares, compared to its average volume of 3,330,000. The stock has a market capitalization of $6,290.00 and a price-to-earnings ratio of 1,018.36. Barratt Developments has a 52 week low of GBX 6.26 ($0.08) and a 52 week high of GBX 705.50 ($9.57).
In related news, insider Jessica White sold 4,110 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of GBX 694 ($9.41), for a total value of £28,523.40 ($38,681.04).
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About Barratt Developments
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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