Barratt Developments (BDEV)

Sector:

Household Goods

Index:

FTSE 100

463.70p
   
  • Change Today:
    -18.30p
  • 52 Week High: 760.00
  • 52 Week Low: 448.50
  • Currency: UK Pounds
  • Shares Issued: 1,022.56m
  • Volume: 2,877,893
  • Market Cap: £4,741.62m
  • RiskGrade: 174

Berenberg slightly lowers target price on Barratt Developments

By Iain Gilbert

Date: Friday 06 May 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slightly lowered their target price on construction firm Barratt Developments from 810.0p to 790.0p but said it saw "no signs of a slowdown".
Berenberg said despite headlines, demand remained "exceptionally strong", as Barratt Developments' net private sales rate was 0.93x between 1 January and 1 May, 12% higher than last year and 18% above 2019.

As per seasonal trends, sales increased between February and May by roughly 3%, slightly below the period's historical improvement of around 5%, implying the rate was close to 1x in March and April.

Likewise, Berenberg also noted that Barratt's private order book stood at 8,117 units, up 25% year-on-year and equating to approximately £3.0bn in value. Prices for private reservations increased by 9% year-on-year, and management stated that there had not been any uptick in down valuations.

However, the German bank did note that likely strong gross margins in the second half will be offset by an increase in operating expenses following a group-wide salary review and said average outlets would probably only be marginally higher against 2021, compared to previous guidance ofr 3% growth.

"Barratt shares have underperformed year-to-date, down 35% compared to circa 28% for the sector, and now offer a circa 10% free cash flow yield by full-year 2023. Our price target modestly falls to reflect the reduced book value per share; we reiterate our 'buy' recommendation," said Berenberg.



Reporting by Iain Gilbert at sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BDEV Market Data

Currency UK Pounds
Share Price 463.70p
Change Today -18.30p
% Change -3.80 %
52 Week High 760.00
52 Week Low 448.50
Volume 2,877,893
Shares Issued 1,022.56m
Market Cap £4,741.62m
RiskGrade 174

BDEV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.50% above the market average94.50% above the market average94.50% above the market average94.50% above the market average94.50% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
55.27% below the market average55.27% below the market average55.27% below the market average55.27% below the market average55.27% below the market average
57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average
Income
94.67% above the market average94.67% above the market average94.67% above the market average94.67% above the market average94.67% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
19.37% above the market average19.37% above the market average19.37% above the market average19.37% above the market average19.37% above the market average
57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average

What The Brokers Say

Strong Buy 14
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 18
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BDEV Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Apr-22 30-Sep-21
Paid 18-May-22 09-Nov-21
Amount 11.20p 21.90p

Trades for 17-Aug-2022

Time Volume / Share Price
17:06 55,000 @ 463.70p
17:04 3,163 @ 469.64p
17:04 934 @ 469.64p
17:04 162 @ 469.64p
17:04 3,163 @ 469.55p

BDEV Key Personnel

COO Steven J Boyes
Chair John Allan

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