Liberum Capital restated their buy rating on shares of Redrow plc (LON:RDW) in a research note published on Thursday. They currently have a GBX 734 ($9.65) price objective on the stock.
Several other equities research analysts have also commented on the stock. Barclays PLC lowered shares of Redrow plc to an equal weight rating and set a GBX 688 ($9.05) price objective on the stock. in a research note on Monday, October 30th. Peel Hunt reaffirmed a buy rating and issued a GBX 740 ($9.73) target price on shares of Redrow plc in a report on Tuesday, September 12th. Deutsche Bank AG reaffirmed a hold rating and issued a GBX 549 ($7.22) target price on shares of Redrow plc in a report on Friday, September 1st. HSBC Holdings plc lifted their target price on shares of Redrow plc from GBX 582 ($7.65) to GBX 734 ($9.65) and gave the stock a buy rating in a report on Monday, October 30th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and issued a GBX 600 ($7.89) target price on shares of Redrow plc in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of GBX 672.50 ($8.85).
Redrow plc (LON RDW) traded down GBX 3 ($0.04) during trading hours on Thursday, reaching GBX 594.50 ($7.82). 1,467,961 shares of the company traded hands, compared to its average volume of 920,643. Redrow plc has a 1-year low of GBX 403.55 ($5.31) and a 1-year high of GBX 673.50 ($8.86).
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The firm also recently announced a dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, September 21st will be issued a dividend of GBX 11 ($0.14) per share. This is a boost from Redrow plc’s previous dividend of $6.00. This represents a yield of 1.74%. The ex-dividend date is Thursday, September 21st.
In other Redrow plc news, insider John F. Tutte sold 89,447 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of GBX 627 ($8.25), for a total transaction of £560,832.69 ($737,646.57). Also, insider Steve Morgan sold 12,950,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of GBX 590 ($7.76), for a total transaction of £76,405,000 ($100,493,226.36). Over the last ninety days, insiders have sold 13,053,353 shares of company stock valued at $7,704,486,599.
About Redrow plc
Redrow PLC is engaged in residential housing development. The Company is engaged in constructing homes throughout England and Wales. The Company’s operations are focused on housebuilding. Its product range is focused on traditional family housing in its regional businesses and apartment schemes in Greater London.
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