Barratt Developments (LON:BDEV) Shares Down 1.2%

Barratt Developments plc (LON:BDEV)’s stock price traded down 1.2% during trading on Wednesday . The stock traded as low as GBX 509.40 ($6.72) and last traded at GBX 509.40 ($6.72). 4,949,715 shares traded hands during trading, a decline of 20% from the average session volume of 6,204,253 shares. The stock had previously closed at GBX 515.60 ($6.80).

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BDEV. Royal Bank of Canada raised their price objective on Barratt Developments from GBX 550 ($7.25) to GBX 575 ($7.58) and gave the company a “sector perform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 560 ($7.38) price objective 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 a consensus rating of “Moderate Buy” and a consensus target price of GBX 540.40 ($7.13).

Barratt Developments Stock Down 1.2 %

The stock has a fifty day moving average price of GBX 508.54 and a two-hundred day moving average price of GBX 489.78. The company has a market cap of £4.96 billion, a price-to-earnings ratio of 2,243.48, a P/E/G ratio of 9.48 and a beta of 1.63. The company has a quick ratio of 0.93, a current ratio of 4.92 and a debt-to-equity ratio of 4.52.

Insider Buying and Selling

In other news, insider Steven J. Boyes sold 118 shares of Barratt Developments stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of GBX 483 ($6.37), for a total value of £569.94 ($751.60). 2.44% 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.