Redrow’s (RDW) “Buy” Rating Reiterated at Liberum Capital

Liberum Capital reiterated their buy rating on shares of Redrow (LON:RDW) in a research note released on Tuesday morning.

A number of other equities research analysts have also weighed in on the stock. UBS Group reaffirmed a buy rating and set a GBX 765 ($10.00) price target on shares of Redrow in a report on Tuesday, August 14th. JPMorgan Chase & Co. reissued an overweight rating on shares of Redrow in a report on Tuesday, September 25th. Canaccord Genuity reissued a buy rating and set a GBX 750 ($9.80) price objective on shares of Redrow in a report on Tuesday, September 4th. Peel Hunt reissued a buy rating on shares of Redrow in a report on Tuesday, September 4th. Finally, Citigroup assumed coverage on shares of Redrow in a report on Wednesday, August 29th. They set a buy rating and a GBX 662 ($8.65) price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Redrow currently has an average rating of Buy and a consensus target price of GBX 690.75 ($9.03).

RDW opened at GBX 560 ($7.32) on Tuesday. Redrow has a twelve month low of GBX 488 ($6.38) and a twelve month high of GBX 673.50 ($8.80).

The business also recently disclosed a dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Thursday, September 20th will be issued a dividend of GBX 19 ($0.25) per share. This is a positive change from Redrow’s previous dividend of $9.00. This represents a yield of 3.49%. The ex-dividend date of this dividend is Thursday, September 20th.

In other Redrow news, insider Barbara Richmond sold 29,903 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of GBX 591 ($7.72), for a total transaction of £176,726.73 ($230,924.77).

About Redrow

Redrow plc focuses on housebuilding activities in the United Kingdom. The company acquires land; and develops residential housing properties. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.

Further Reading: Discount Rate

Analyst Recommendations for Redrow (LON:RDW)

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