Berenberg Bank Reiterates Buy Rating for The Berkeley Group (LON:BKG)

Key Points

• Berenberg Bank has reaffirmed a "Buy" rating for The Berkeley Group (LON:BKG) with a price target of GBX 5,000, indicating a potential upside of 36.54%.
• The company has received a consensus rating of "Moderate Buy" from various analysts, with a consensus price target of approximately GBX 4,891.25.
• Insider transactions include notable purchases, with insiders acquiring a total of 25,616 shares valued at over £97 million in the last 90 days.

Berenberg Bank reaffirmed their buy rating on shares of The Berkeley Group (LON:BKG - Free Report) in a research report sent to investors on Monday morning, MarketBeat.com reports. They currently have a GBX 5,000 target price on the stock.

BKG has been the topic of several other research reports. UBS Group reissued a "buy" rating and issued a GBX 4,965 target price on shares of The Berkeley Group in a report on Friday, August 15th. Royal Bank Of Canada raised shares of The Berkeley Group to an "outperform" rating and boosted their target price for the stock from GBX 4,550 to GBX 4,900 in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 4,891.25.

The Berkeley Group Price Performance

Shares of BKG stock traded up GBX 2 during mid-day trading on Monday, hitting GBX 3,642. The company had a trading volume of 201,251 shares, compared to its average volume of 843,885. The Berkeley Group has a 52-week low of GBX 3,462 and a 52-week high of GBX 4,986. The stock's 50 day moving average price is GBX 3,670.70 and its 200-day moving average price is GBX 3,833.38. The company has a debt-to-equity ratio of 18.66, a current ratio of 3.39 and a quick ratio of 0.57. The company has a market capitalization of £3.48 billion, a P/E ratio of 984.32, a P/E/G ratio of -0.87 and a beta of 1.22.

Insiders Place Their Bets

In other The Berkeley Group news, insider Richard Stearn purchased 7,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were bought at an average price of GBX 3,867 per share, with a total value of £270,690. Also, insider Robert C. G. Perrins bought 2,816 shares of The Berkeley Group stock in a transaction dated Tuesday, July 15th. The stock was purchased at an average cost of GBX 3,550 per share, for a total transaction of £99,968. In the last ninety days, insiders have purchased 25,616 shares of company stock worth $97,062,600. 7.86% of the stock is owned by insiders.

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.