Berkeley Group (LON:BKG) Downgraded to “Hold” at Deutsche Bank

Deutsche Bank cut shares of Berkeley Group (LON:BKG) to a hold rating in a research note issued to investors on Thursday, November 30th. The brokerage currently has GBX 3,951 ($53.18) price target on the stock, up from their previous price target of GBX 3,908 ($52.60).

BKG has been the topic of a number of other reports. Bank of America reissued an underperform rating and issued a GBX 2,850 ($38.36) price target on shares of Berkeley Group in a research report on Tuesday, September 12th. Peel Hunt reissued a buy rating and issued a GBX 4,390 ($59.08) price target on shares of Berkeley Group in a research report on Wednesday, September 6th. Shore Capital restated a hold rating on shares of Berkeley Group in a report on Wednesday, November 8th. Barclays lowered shares of Berkeley Group to an underweight rating and set a GBX 3,628 ($48.83) price objective for the company. in a report on Monday, October 30th. Finally, Credit Suisse Group restated an underperform rating and issued a GBX 2,985 ($40.17) price objective on shares of Berkeley Group in a report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of GBX 3,657.83 ($49.23).

Berkeley Group (LON BKG) opened at GBX 4,058 ($54.62) on Thursday. Berkeley Group has a 1-year low of GBX 2,724 ($36.66) and a 1-year high of GBX 4,235 ($57.00).

Berkeley Group (LON:BKG) last posted its quarterly earnings data on Friday, December 8th. The company reported GBX 316.60 ($4.26) earnings per share for the quarter. The business had revenue of GBX 160.77 billion for the quarter. Berkeley Group had a return on equity of 32.51% and a net margin of 25.54%.

In related news, insider Richard Stearn sold 10,030 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of GBX 3,754 ($50.52), for a total value of £376,526.20 ($506,764.74). Also, insider Robert C. G. Perrins sold 500,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of GBX 3,850 ($51.82), for a total transaction of £19,250,000 ($25,908,479.14). Insiders sold a total of 513,030 shares of company stock valued at $1,974,305,620 over the last 90 days.

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About Berkeley Group

The Berkeley Group Holdings plc is a holding company. The Company, along with its subsidiaries, is engaged in residential-led, mixed-use property development. Its segments include Residential-led mixed-use development and Other activities. Its brands include Berkeley, which creates medium to large-scale developments in towns, cities and the countryside, encompassing executive homes, mixed use schemes, riverside apartments, refurbished historic buildings and urban loft spaces; St George, which is involved in mixed use sustainable regeneration in London; St James, which handles projects that embrace private residential development, commercial property, recreational and community facilities; St Edward, which offers residentially led developments, and St William.

Analyst Recommendations for Berkeley Group (LON:BKG)

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