Barratt Redrow (LON:BTRW) Cut to Buy at Citigroup

Citigroup lowered shares of Barratt Redrow (LON:BTRW) to a buy rating in a research note published on Wednesday, Marketbeat.com reports.

BTRW has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Barratt Redrow from GBX 454 to GBX 366 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Bank of America cut their price objective on Barratt Redrow from GBX 400 to GBX 280 and set a “neutral” rating for the company in a research report on Friday, March 27th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 348 target price on shares of Barratt Redrow in a research note on Thursday, July 16th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 289 target price on shares of Barratt Redrow in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a GBX 365 price target on shares of Barratt Redrow in a research note on Wednesday, April 15th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 389.27.

Barratt Redrow Stock Up 1.4%

BTRW stock opened at GBX 294.70 on Wednesday. The company’s 50-day simple moving average is GBX 268.94 and its 200-day simple moving average is GBX 301.90. Barratt Redrow has a 52-week low of GBX 235.40 and a 52-week high of GBX 410.29. The firm has a market cap of £4.13 billion, a P/E ratio of 19.78 and a beta of 1.36.

Insider Transactions at Barratt Redrow

In other news, insider Geeta Nanda acquired 1,701 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The shares were bought at an average cost of GBX 294 per share, for a total transaction of £5,000.94. Insiders own 0.30% of the company’s stock.

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. Together, we have held more NHBC Pride in the Job Awards than any other housebuilder, for 20 years.