Taylor Wimpey (LON:TW) Price Target Lowered to GBX 70 at JPMorgan Chase & Co.

Taylor Wimpey (LON:TW) had its target price lowered by equities researchers at JPMorgan Chase & Co. from GBX 100 to GBX 70 in a note issued to investors on Tuesday,Digital Look reports. The firm presently has an “underweight” rating on the homebuilder’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 8.71% from the stock’s previous close.

A number of other analysts have also recently weighed in on TW. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Taylor Wimpey from GBX 122 to GBX 96 and set a “hold” rating for the company in a research note on Monday, May 11th. Berenberg Bank reduced their price objective on shares of Taylor Wimpey from GBX 120 to GBX 105 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Jefferies Financial Group reduced their price objective on shares of Taylor Wimpey from GBX 105 to GBX 103 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Stifel Nicolaus reiterated a “buy” rating and set a GBX 120 target price on shares of Taylor Wimpey in a research note on Thursday, March 5th. Finally, Bank of America cut their target price on shares of Taylor Wimpey from GBX 110 to GBX 90 and set a “neutral” rating for the company in a research note on Monday, March 30th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of GBX 109.

Taylor Wimpey Stock Performance

Shares of Taylor Wimpey stock traded up GBX 1.88 on Tuesday, reaching GBX 76.68. The stock had a trading volume of 22,218,686 shares, compared to its average volume of 2,409,451. The business has a fifty day moving average price of GBX 80.90 and a 200-day moving average price of GBX 95.76. The company has a current ratio of 4.96, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The company has a market capitalization of £2.76 billion, a PE ratio of 11.19, a P/E/G ratio of 2.04 and a beta of 1.31.

Taylor Wimpey declared that its board has approved a stock buyback plan on Thursday, March 5th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the homebuilder to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Taylor Wimpey

In related news, insider Jennie Daly bought 139,270 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was purchased at an average cost of GBX 86 per share, for a total transaction of £119,772.20. Also, insider Mark Castle bought 1,999 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of GBX 75 per share, with a total value of £1,499.25. Insiders purchased a total of 232,377 shares of company stock worth $19,958,202 in the last ninety days. 0.87% of the stock is currently owned by insiders.

About Taylor Wimpey

Taylor Wimpey plc operates as a homebuilder in the United Kingdom and Spain. It builds and delivers various homes and communities. Taylor Wimpey plc was incorporated in 1935 and is based in High Wycombe, the United Kingdom.