The Berkeley Group (LON:BKG) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

The Berkeley Group Holdings plc (LON:BKG)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 3,714.06 and traded as low as GBX 3,402. The Berkeley Group shares last traded at GBX 3,500, with a volume of 38,161,684 shares changing hands.

Analysts Set New Price Targets

BKG has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on The Berkeley Group from GBX 4,598 to GBX 4,531 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Berenberg Bank lowered their price target on The Berkeley Group from GBX 4,500 to GBX 4,000 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada upgraded The Berkeley Group to a “sector perform” rating and set a GBX 3,900 price target for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. cut their price objective on shares of The Berkeley Group from GBX 5,000 to GBX 4,200 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Finally, Bank of America upgraded shares of The Berkeley Group to a “buy” rating and reduced their price objective for the company from GBX 4,080 to GBX 4,020 in a research report on Monday, March 30th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 4,190.

The Berkeley Group Trading Up 7.7%

The stock has a market cap of £3.43 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of -0.87 and a beta of 1.19. The stock has a 50-day moving average price of GBX 3,378.73 and a two-hundred day moving average price of GBX 3,712.38. The company has a debt-to-equity ratio of 18.94, a current ratio of 3.54 and a quick ratio of 0.57.

The Berkeley Group (LON:BKG) last issued its earnings results on Wednesday, June 24th. The company reported GBX 331.60 earnings per share (EPS) for the quarter. The firm had revenue of GBX 238.33 billion for the quarter. The Berkeley Group had a return on equity of 10.20% and a net margin of 15.29%.

Insider Buying and Selling

In other news, insider Robert C. G. Perrins bought 7,000 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of GBX 3,168 per share, for a total transaction of £221,760. Also, insider Rachel Downey bought 575 shares of the stock in a transaction dated Wednesday, April 15th. The shares were purchased at an average price of GBX 3,449 per share, with a total value of £19,831.75. In the last ninety days, insiders acquired 14,575 shares of company stock worth $46,874,175. Corporate insiders own 9.98% of the company’s stock.

About The Berkeley Group

At Berkeley Group we build homes and neighbourhoods across London, Birmingham and the South of England.

Our passion and purpose is to build quality homes, strengthen communities and make a positive difference to people’s lives. We use our sustained commercial success to make valuable and enduring contributions that benefit all our stakeholders.

We specialise in brownfield regeneration, working closely with local communities and councils to revive underused land and create homes where they are needed most.