The Berkeley Group (LON:BKG) Upgraded by Bank of America to “Buy” Rating

Bank of America upgraded shares of The Berkeley Group (LON:BKG) to a buy rating in a research note issued to investors on Monday,London Stock Exchange reports. The brokerage currently has GBX 4,020 price target on the stock, down from their previous price target of GBX 4,080.

A number of other research firms also recently issued reports on BKG. JPMorgan Chase & Co. raised shares of The Berkeley Group to an “overweight” rating and raised their price objective for the stock from GBX 4,700 to GBX 5,000 in a report on Wednesday, February 4th. Royal Bank Of Canada cut shares of The Berkeley Group to an “underperform” rating and reduced their target price for the company from GBX 4,900 to GBX 3,700 in a report on Tuesday, December 2nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of GBX 4,399.83.

The Berkeley Group Trading Up 1.3%

Shares of LON:BKG opened at GBX 3,476 on Monday. The stock’s 50-day simple moving average is GBX 4,019.75 and its two-hundred day simple moving average is GBX 3,926.69. The stock has a market capitalization of £3.28 billion, a price-to-earnings ratio of 9.46, a PEG ratio of -0.87 and a beta of 1.19. The Berkeley Group has a 52-week low of GBX 3,370 and a 52-week high of GBX 4,442. The company has a debt-to-equity ratio of 18.94, a quick ratio of 0.57 and a current ratio of 3.54.

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.