Barratt Developments (LON:BDEV) Hits New 52-Week High at $669.60

Barratt Developments plc (LON:BDEV)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 669.60 ($8.46) and last traded at GBX 477.90 ($6.04), with a volume of 1787695 shares changing hands. The stock had previously closed at GBX 475.40 ($6.01).

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Berenberg Bank restated a “hold” rating and issued a GBX 488 ($6.17) target price on shares of Barratt Developments in a report on Wednesday, February 7th. Citigroup upgraded shares of Barratt Developments to a “buy” rating and set a GBX 615 ($7.77) target price for the company in a report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 490.88 ($6.20).

Barratt Developments Stock Performance

The company has a market cap of £4.66 billion, a PE ratio of 2,066.96, a P/E/G ratio of -1.65 and a beta of 1.56. The company has a debt-to-equity ratio of 4.52, a quick ratio of 0.93 and a current ratio of 4.92. The stock’s 50-day simple moving average is GBX 492.06 and its 200 day simple moving average is GBX 486.13.

Barratt Developments Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 11th will be issued a GBX 4.40 ($0.06) dividend. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 0.83%. Barratt Developments’s dividend payout ratio is presently 12,173.91%.

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.