Barratt Developments (LON:BDEV) Reaches New 52-Week High After Analyst Upgrade

Barratt Developments Plc (LON:BDEV) reached a new 52-week high on Friday after Berenberg Bank raised their price target on the stock from GBX 650 to GBX 670. Berenberg Bank currently has a buy rating on the stock. Barratt Developments traded as high as GBX 628.20 ($8.21) and last traded at GBX 626.46 ($8.19), with a volume of 856271 shares changing hands. The stock had previously closed at GBX 614.40 ($8.03).

Several other research analysts also recently commented on the company. Shore Capital reaffirmed a “house stock” rating on shares of TLOU Energy in a report on Wednesday. Numis Securities started coverage on TUI in a report on Thursday, May 9th. They set a “buy” rating on the stock. JPMorgan Chase & Co. set a $45.00 target price on Ciena and gave the stock a “buy” rating in a report on Friday, March 22nd. UBS Group set a $125.00 target price on Caterpillar and gave the stock a “sell” rating in a report on Friday, May 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a GBX 620 ($8.10) target price on shares of in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of GBX 662.08 ($8.65).

The stock has a market capitalization of $6.38 billion and a price-to-earnings ratio of 8.78. The business’s 50-day moving average price is GBX 569.18. The company has a debt-to-equity ratio of 4.39, a current ratio of 3.79 and a quick ratio of 0.51.

About Barratt Developments (LON:BDEV)

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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