Royal Bank Of Canada Forecasts Strong Price Appreciation for The Berkeley Group (LON:BKG) Stock

The Berkeley Group (LON:BKG) had its price target raised by investment analysts at Royal Bank Of Canada from GBX 3,850 to GBX 4,100 in a report issued on Thursday,Digital Look reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 7.72% from the company’s current price.

BKG has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on The Berkeley Group from GBX 5,000 to GBX 4,200 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Bank of America upgraded 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. Berenberg Bank decreased their price objective 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. Finally, Jefferies Financial Group dropped their target price on The Berkeley Group from GBX 4,598 to GBX 4,531 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The Berkeley Group presently has an average rating of “Moderate Buy” and an average price target of GBX 4,218.57.

The Berkeley Group Price Performance

The Berkeley Group stock opened at GBX 3,806 on Thursday. The stock has a market cap of £3.52 billion, a price-to-earnings ratio of 10.36, a PEG ratio of -0.87 and a beta of 1.19. The company has a quick ratio of 0.57, a current ratio of 3.54 and a debt-to-equity ratio of 18.94. The business has a 50-day simple moving average of GBX 3,378.73 and a 200 day simple moving average of GBX 3,712.38. The Berkeley Group has a 52 week low of GBX 2,796 and a 52 week high of GBX 4,442.

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

Insiders Place Their Bets

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

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.