Brokerages Set Redrow plc (LON:RDW) PT at GBX 699.50

Redrow plc (LON:RDW) has earned an average rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is GBX 699.50 ($8.71).

Several equities analysts have weighed in on RDW shares. Royal Bank of Canada lowered shares of Redrow to a “sector perform” rating and set a GBX 750 ($9.34) target price on the stock. in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded shares of Redrow to a “neutral” rating and boosted their target price for the company from GBX 410 ($5.10) to GBX 760 ($9.46) in a report on Friday, April 12th. Citigroup reiterated a “neutral” rating and issued a GBX 756 ($9.41) target price on shares of Redrow in a report on Friday, February 9th. Finally, Berenberg Bank lowered shares of Redrow to a “hold” rating and boosted their target price for the company from GBX 643 ($8.00) to GBX 688 ($8.56) in a report on Friday, March 22nd.

Insider Transactions at Redrow

In other news, insider Matthew Pratt sold 27,430 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.13), for a total value of £179,117.90 ($222,977.59). Company insiders own 25.12% of the company’s stock.

Redrow Stock Performance

RDW opened at GBX 629.50 ($7.84) on Monday. The firm has a market capitalization of £2.08 billion, a PE ratio of 983.59, a PEG ratio of -0.81 and a beta of 1.66. Redrow has a twelve month low of GBX 423.63 ($5.27) and a twelve month high of GBX 700 ($8.71). The firm’s 50-day moving average price is GBX 659.09 and its 200 day moving average price is GBX 587.88. The company has a current ratio of 4.08, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Redrow Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, February 22nd were issued a GBX 5 ($0.06) dividend. The ex-dividend date was Thursday, February 22nd. This represents a yield of 0.83%. Redrow’s payout ratio is 3,906.25%.

Redrow Company Profile

Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.