Redrow (RDW) Price Target Lowered to GBX 620 at Peel Hunt

Redrow (LON:RDW) had its target price reduced by Peel Hunt from GBX 800 ($10.45) to GBX 620 ($8.10) in a report released on Monday. The firm presently has a “buy” rating on the stock. Peel Hunt’s price objective suggests a potential upside of 31.52% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup reiterated a “buy” rating and set a GBX 670 ($8.75) price objective (up previously from GBX 390 ($5.10)) on shares of Redrow in a research report on Wednesday, September 5th. Deutsche Bank increased their price objective on Redrow from GBX 622 ($8.13) to GBX 638 ($8.34) and gave the company a “hold” rating in a research report on Wednesday, September 5th. Numis Securities reiterated a “buy” rating on shares of Redrow in a research report on Wednesday, September 5th. Canaccord Genuity reiterated a “buy” rating and set a GBX 750 ($9.80) price objective on shares of Redrow in a research report on Tuesday, September 4th. Finally, Liberum Capital reiterated a “buy” rating on shares of Redrow in a research report on Tuesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of GBX 679.50 ($8.88).

Shares of LON:RDW traded down GBX 11.40 ($0.15) on Monday, reaching GBX 471.40 ($6.16). 743,076 shares of the company traded hands, compared to its average volume of 997,321. Redrow has a fifty-two week low of GBX 488 ($6.38) and a fifty-two week high of GBX 673.50 ($8.80).

In other Redrow news, insider Barbara Richmond sold 29,903 shares of the business’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).

Redrow Company Profile

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.

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