JPMorgan Chase & Co. Cuts The Berkeley Group (LON:BKG) Price Target to GBX 4,200

The Berkeley Group (LON:BKG) had its price target lowered by JPMorgan Chase & Co. from GBX 5,000 to GBX 4,200 in a research note released on Thursday,London Stock Exchange reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Bank of America upgraded shares of The Berkeley Group to a “buy” rating and decreased their price target for the stock from GBX 4,080 to GBX 4,020 in a research note on Monday, March 30th. Royal Bank Of Canada raised shares of The Berkeley Group to a “sector perform” rating and set a GBX 3,900 price objective on the stock in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 4,133.17.

The Berkeley Group Stock Performance

Shares of The Berkeley Group stock opened at GBX 3,168 on Thursday. The business has a 50-day simple moving average of GBX 3,957.98 and a 200-day simple moving average of GBX 3,913.19. The company has a debt-to-equity ratio of 18.94, a quick ratio of 0.57 and a current ratio of 3.54. The Berkeley Group has a one year low of GBX 2,796 and a one year high of GBX 4,442. The company has a market cap of £2.99 billion, a PE ratio of 8.62, a P/E/G ratio of -0.87 and a beta of 1.19.

More The Berkeley Group News

Here are the key news stories impacting The Berkeley Group this week:

• Positive Sentiment: Royal Bank of Canada moved the stock to “Sector Perform” and published a favorable report, providing broker support that may stabilise sentiment. Positive Report for The Berkeley Group Holdings (BKG) from RBC Capital
• Positive Sentiment: An announcement disclosed a share purchase by a person closely associated with the CFO — insider buying is typically viewed as a vote of confidence in management and the company’s strategy. Berkeley Group Discloses Share Purchase by CFO’s Closely Associated Person
• Positive Sentiment: An analyst upgrade highlighted that Berkeley’s new strategic direction is the “right thing to do,” supporting confidence in medium-term execution. This bolsters the argument that management changes could improve returns. Berkeley upgraded again as new strategy is ‘right thing to do’, says analyst
• Negative Sentiment: JPMorgan cut its price target from GBX 5,000 to GBX 4,200 (while keeping an “overweight” rating) — a meaningful reduction in upside expectations that can pressure the share price. London Stock Exchange broker ratings
• Negative Sentiment: Berenberg lowered its price target from GBX 4,500 to GBX 4,000 (retaining “buy”), another downgrade of near?term valuation that may weigh on investor sentiment. London Stock Exchange broker ratings
• Negative Sentiment: Coverage noting the stock hit a new one-year low raises short-term selling pressure and investor caution, particularly given sector cyclicality and current valuation concerns. The Berkeley Group (LON:BKG) Hits New 1-Year Low – Should You Sell?

About The Berkeley Group

At Berkeley Group we build homes and neighbourhoods across London, Birmingham and the South of England.

Our passion and purpose is to build quality homes, strengthen communities and make a positive difference to people’s lives. We use our sustained commercial success to make valuable and enduring contributions that benefit all our stakeholders.

We specialise in brownfield regeneration, working closely with local communities and councils to revive underused land and create homes where they are needed most.