Barratt Developments (LON:BDEV) Price Target Cut to GBX 530

Barratt Developments (LON:BDEVGet Rating) had its target price reduced by JPMorgan Chase & Co. from GBX 610 ($7.37) to GBX 530 ($6.40) in a research note released on Wednesday morning, MarketBeat reports. They currently have a neutral rating on the real estate development company’s stock.

A number of other research analysts have also weighed in on BDEV. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 835 ($10.09) price target on shares of Barratt Developments in a research note on Thursday, September 8th. UBS Group reissued a buy rating and issued a GBX 427 ($5.16) price objective on shares of Barratt Developments in a research report on Friday, September 2nd. Liberum Capital reissued a buy rating and issued a GBX 690 ($8.34) price objective on shares of Barratt Developments in a research report on Wednesday, May 25th. Finally, Berenberg Bank lowered shares of Barratt Developments to a hold rating and cut their price objective for the stock from GBX 790 ($9.55) to GBX 459 ($5.55) in a research report on Monday, September 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of GBX 640.14 ($7.73).

Barratt Developments Stock Performance

Shares of BDEV opened at GBX 411.25 ($4.97) on Wednesday. The company has a debt-to-equity ratio of 4.52, a quick ratio of 0.94 and a current ratio of 4.04. Barratt Developments has a twelve month low of GBX 393.05 ($4.75) and a twelve month high of GBX 765.14 ($9.25). The firm’s 50 day moving average price is GBX 457.48 and its two-hundred day moving average price is GBX 485.98. The firm has a market cap of £4.21 billion and a P/E ratio of 837.80.

Barratt Developments Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, November 4th. Shareholders of record on Thursday, September 29th will be given a dividend of GBX 25.70 ($0.31) per share. This is a positive change from Barratt Developments’s previous dividend of $11.20. This represents a yield of 6.09%. The ex-dividend date of this dividend is Thursday, September 29th. Barratt Developments’s dividend payout ratio is 58.80%.

Insiders Place Their Bets

In other news, insider Mike Scott purchased 4,500 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of GBX 415 ($5.01) per share, with a total value of £18,675 ($22,565.25). In related news, insider Katie Bickerstaffe acquired 1,200 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were purchased at an average cost of GBX 415 ($5.01) per share, for a total transaction of £4,980 ($6,017.40). Also, insider Mike Scott acquired 4,500 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of GBX 415 ($5.01) per share, for a total transaction of £18,675 ($22,565.25).

Barratt Developments Company Profile

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Barratt Developments plc engages in the housebuilding and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities; and retail, leisure, office, industrial, and mixed-use properties. The company offers homes under the Barratt Homes, David Wilson Homes, and Barratt London brands.

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