Barratt Redrow (LON:BTRW) Stock Price Down 9.4% on Analyst Downgrade

Shares of Barratt Redrow plc (LON:BTRW) dropped 9.4% during trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 540 to GBX 485. Berenberg Bank currently has a hold rating on the stock. Barratt Redrow traded as low as GBX 362.50 ($4.87) and last traded at GBX 377.55 ($5.07). Approximately 29,160,699 shares changed hands during trading, an increase of 176% from the average daily volume of 10,577,514 shares. The stock had previously closed at GBX 416.50 ($5.59).

A number of other research firms have also commented on BTRW. Citigroup reduced their price objective on shares of Barratt Redrow from GBX 591 ($7.94) to GBX 510 ($6.85) and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 536 ($7.20) price objective on shares of Barratt Redrow in a research note on Wednesday. Finally, Royal Bank Of Canada reduced their price target on shares of Barratt Redrow from GBX 575 ($7.72) to GBX 550 ($7.39) and set an “outperform” rating for the company in a research report on Wednesday.

Insider Buying and Selling

In related news, insider Caroline Silver acquired 13,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were acquired at an average price of GBX 375 ($5.04) per share, for a total transaction of £48,750 ($65,462.60). Also, insider Mike Scott acquired 2,500 shares of the stock in a transaction dated Tuesday, July 15th. The stock was bought at an average price of GBX 386 ($5.18) per share, for a total transaction of £9,650 ($12,958.24).

Barratt Redrow Stock Up 0.5%

The company’s 50 day moving average price is GBX 450.17 and its 200 day moving average price is GBX 439.02.

About Barratt Redrow

Barratt Redrow plc is an exceptional FTSE 100 listed UK home builder, building the homes the country needs, and dedicated to quality, service and sustainability.

Together, we offer a range of highly respected and complementary brands, Barratt, David Wilson and Redrow.

We put our customers at the heart of everything we do, through our focus on:

✅ Quality – We deliver high-quality, energy-efficient homes which are built to the highest standards.