Barratt Developments (LON:BDEV) Earns Buy Rating from Citigroup

Barratt Developments (LON:BDEV)‘s stock had its “buy” rating reaffirmed by analysts at Citigroup in a research note issued on Thursday, LSE.Co.UK reports. They currently have a GBX 615 ($8.09) price objective on the real estate development company’s stock. Citigroup’s target price would indicate a potential upside of 21.78% from the stock’s previous close.

BDEV has been the subject of a number of other reports. Royal Bank of Canada restated a “sector perform” rating and set a GBX 575 ($7.56) price objective on shares of Barratt Developments in a research note on Thursday. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 560 ($7.36) price target on shares of Barratt Developments in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 540.40 ($7.11).

Barratt Developments Trading Up 1.8 %

Shares of Barratt Developments stock traded up GBX 8.70 ($0.11) during trading hours on Thursday, hitting GBX 505 ($6.64). The company’s stock had a trading volume of 4,825,384 shares, compared to its average volume of 6,347,218. The company has a market capitalization of £7.32 billion, a PE ratio of 2,195.65, a price-to-earnings-growth ratio of 9.09 and a beta of 1.63. Barratt Developments has a 12 month low of GBX 384.15 ($5.05) and a 12 month high of GBX 582.60 ($7.66). The company has a debt-to-equity ratio of 4.52, a current ratio of 4.92 and a quick ratio of 0.93. The stock has a 50 day moving average of GBX 512.86 and a 200 day moving average of GBX 491.08.

Insider Buying and Selling

In other news, insider Steven J. Boyes sold 118 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of GBX 483 ($6.35), for a total transaction of £569.94 ($749.43). 1.51% of the stock is owned by insiders.

About Barratt Developments

Barratt Developments plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.