Barratt Developments Plc (BDEV) Raised to “Outperform” at Credit Suisse Group

Credit Suisse Group upgraded shares of Barratt Developments Plc (LON:BDEV) to an outperform rating in a research report report published on Friday. Credit Suisse Group currently has GBX 702 ($9.31) price target on the real estate development company’s stock, up from their previous price target of GBX 578 ($7.67).

A number of other research analysts also recently issued reports on BDEV. Liberum Capital reissued a sell rating and issued a GBX 537 ($7.12) price target on shares of Barratt Developments Plc in a report on Thursday, August 10th. Deutsche Bank AG reissued a buy rating on shares of Barratt Developments Plc in a report on Monday, August 14th. J P Morgan Chase & Co reissued a neutral rating and issued a GBX 620 ($8.22) price target on shares of Barratt Developments Plc in a report on Friday, September 29th. Peel Hunt raised Barratt Developments Plc to an add rating and set a GBX 670 ($8.89) price target for the company in a report on Wednesday, September 27th. Finally, Barclays PLC boosted their price target on Barratt Developments Plc from GBX 629 ($8.34) to GBX 712 ($9.44) and gave the company an overweight rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of Hold and an average target price of GBX 649.07 ($8.61).

Shares of Barratt Developments Plc (LON BDEV) opened at 656.50 on Friday. Barratt Developments Plc has a 1-year low of GBX 430.40 and a 1-year high of GBX 660.00. The company’s market cap is GBX 6.61 billion. The firm’s 50-day moving average is GBX 610.53 and its 200-day moving average is GBX 591.51.

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The firm also recently announced a dividend, which will be paid on Monday, November 20th. Stockholders of record on Thursday, October 26th will be paid a dividend of GBX 34.40 ($0.46) per share. This represents a dividend yield of 5.74%. This is an increase from Barratt Developments Plc’s previous dividend of $7.30. The ex-dividend date of this dividend is Thursday, October 26th.

In other news, insider David Thomas sold 400,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of GBX 591 ($7.84), for a total transaction of £2,364,000 ($3,135,694.39).

Barratt Developments Plc Company Profile

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.

Analyst Recommendations for Barratt Developments Plc (LON:BDEV)

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