The Berkeley Group (LON:BKG) Shares Cross Below 200-Day Moving Average - Here's Why

The Berkeley Group Holdings plc (LON:BKG - Get Free Report) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 3,399.07 and traded as low as GBX 3,114. The Berkeley Group shares last traded at GBX 3,184, with a volume of 130,659 shares changing hands.

Analysts Set New Price Targets

BKG has been the subject of several recent research reports. Citigroup cut their price target on The Berkeley Group from £375.40 to £365 and set a "neutral" rating for the company in a report on Friday, June 26th. Jefferies Financial Group decreased their price objective on The Berkeley Group from GBX 4,517 to GBX 4,301 and set a "buy" rating on the stock in a research note on Monday, September 28th. Royal Bank Of Canada raised their price objective on The Berkeley Group from GBX 3,850 to GBX 4,100 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a GBX 4,000 price objective on shares of The Berkeley Group in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 8,690.71.

The Berkeley Group Stock Performance

The stock's 50 day moving average price is GBX 3,412.24 and its 200-day moving average price is GBX 3,399.07. The company has a quick ratio of 0.57, a current ratio of 3.58 and a debt-to-equity ratio of 18.24. The stock has a market capitalization of £2.89 billion, a PE ratio of 9.62, a PEG ratio of -0.87 and a beta of 1.18.

Insider Activity at The Berkeley Group

In other news, insider Richard Stearn acquired 1,128 shares of The Berkeley Group stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of GBX 3,526 per share, with a total value of £39,773.28. Also, insider Neil Eady purchased 3,405 shares of The Berkeley Group stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of GBX 3,515 per share, for a total transaction of £119,685.75. Insiders acquired a total of 5,097 shares of company stock valued at $17,931,747 over the last 90 days. 8.42% of the stock is currently owned by corporate insiders.

The Berkeley Group Company Profile

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.

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