Deutsche Bank AG Reiterates Buy Rating for Barratt Developments plc (BDEV)
Barratt Developments plc (LON:BDEV)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report released on Thursday. They presently have a GBX 768 ($10.10) target price on the real estate development company’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 22.10% from the company’s current price.
Several other analysts have also issued reports on the company. Credit Suisse Group upgraded Barratt Developments plc to an “outperform” rating and increased their price objective for the stock from GBX 578 ($7.60) to GBX 702 ($9.23) in a report on Friday, October 6th. Barclays PLC cut their target price on Barratt Developments plc from GBX 712 ($9.36) to GBX 710 ($9.34) and set an “overweight” rating on the stock in a report on Monday, October 30th. Liberum Capital restated a “sell” rating and set a GBX 537 ($7.06) target price on shares of Barratt Developments plc in a report on Friday, August 4th. Peel Hunt restated a “hold” rating and set a GBX 635 ($8.35) target price on shares of Barratt Developments plc in a report on Wednesday, September 6th. Finally, Numis Securities Ltd restated a “hold” rating and set a GBX 638 ($8.39) target price on shares of Barratt Developments plc in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of GBX 660.29 ($8.68).
Shares of Barratt Developments plc (BDEV) opened at GBX 629 ($8.27) on Thursday. Barratt Developments plc has a 1-year low of GBX 450.60 ($5.93) and a 1-year high of GBX 705.50 ($9.28).
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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 transaction of £28,523.40 ($37,515.98). Also, insider David Thomas sold 26,887 shares of Barratt Developments plc stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of GBX 653 ($8.59), for a total value of £175,572.11 ($230,924.78). Over the last three months, insiders have sold 440,997 shares of company stock worth $263,319,551.
About Barratt Developments plc
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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