Redrow plc (LON:RDW) Receives GBX 699.50 Consensus Price Target from Analysts

Redrow plc (LON:RDW) has received an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is GBX 699.50 ($8.71).

RDW has been the topic of several recent analyst reports. Royal Bank of Canada cut Redrow to a “sector perform” rating and set a GBX 750 ($9.34) target price on the stock. in a research note on Thursday, March 21st. Citigroup restated a “neutral” rating and issued a GBX 756 ($9.41) price objective on shares of Redrow in a report on Friday, February 9th. Berenberg Bank lowered shares of Redrow to a “hold” rating and raised their price objective for the stock from GBX 643 ($8.00) to GBX 688 ($8.56) in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Redrow to a “neutral” rating and raised their price objective for the stock from GBX 410 ($5.10) to GBX 760 ($9.46) in a report on Friday, April 12th.

Insider Activity

In other news, insider Matthew Pratt sold 27,430 shares of Redrow 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 transaction of £179,117.90 ($222,977.59). Company insiders own 25.12% of the company’s stock.

Redrow Stock Down 0.9 %

LON RDW opened at GBX 628 ($7.82) on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.08 and a quick ratio of 0.36. The stock has a market capitalization of £2.08 billion, a PE ratio of 981.25, a PEG ratio of -0.81 and a beta of 1.66. Redrow has a 1 year low of GBX 423.63 ($5.27) and a 1 year high of GBX 700 ($8.71). The business’s 50-day moving average is GBX 658.08 and its 200 day moving average is GBX 588.20.

Redrow Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, February 22nd were issued a dividend of GBX 5 ($0.06) per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a dividend 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.