Redrow plc (LON:RDW – Get Free Report)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 598.71 ($7.52) and traded as high as GBX 653 ($8.20). Redrow shares last traded at GBX 643 ($8.08), with a volume of 365,538 shares traded.
Analysts Set New Price Targets
A number of analysts recently issued reports on RDW shares. Royal Bank of Canada lowered Redrow to a “sector perform” rating and set a GBX 750 ($9.42) price objective on the stock. in a research note on Thursday, March 21st. Berenberg Bank downgraded shares of Redrow to a “hold” rating and increased their price target for the stock from GBX 643 ($8.08) to GBX 688 ($8.64) in a report on Friday, March 22nd. Citigroup reaffirmed a “neutral” rating and set a GBX 756 ($9.50) price objective on shares of Redrow in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. upgraded shares of Redrow to a “neutral” rating and increased their target price for the stock from GBX 410 ($5.15) to GBX 760 ($9.55) in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Redrow presently has an average rating of “Hold” and a consensus price target of GBX 699.50 ($8.79).
Get Our Latest Stock Analysis on RDW
Redrow Trading Down 0.7 %
Redrow Cuts Dividend
The company also recently declared a dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, February 22nd were issued a GBX 5 ($0.06) dividend. This represents a yield of 0.83%. The ex-dividend date was Thursday, February 22nd. Redrow’s dividend payout ratio (DPR) is presently 3,906.25%.
Insider Buying and Selling at Redrow
In other news, insider Matthew Pratt sold 27,430 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.20), for a total transaction of £179,117.90 ($224,994.22). Corporate insiders own 25.12% of the company’s stock.
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.
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