Brokerages Set Redrow plc (LON:RDW) Target Price at GBX 696.67

Shares of Redrow plc (LON:RDW) have earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is GBX 696.67 ($9.10).

A number of analysts have issued reports on RDW shares. Berenberg Bank reissued a “buy” rating on shares of Redrow in a research report on Tuesday, September 10th. Liberum Capital reissued a “buy” rating on shares of Redrow in a research report on Friday, September 6th. Canaccord Genuity reissued a “buy” rating and issued a GBX 660 ($8.62) target price on shares of Redrow in a research report on Thursday, September 5th. UBS Group reissued a “buy” rating and issued a GBX 815 ($10.65) target price (up previously from GBX 745 ($9.73)) on shares of Redrow in a research report on Wednesday, September 25th. Finally, Peel Hunt reissued a “buy” rating on shares of Redrow in a research report on Tuesday.

RDW stock opened at GBX 626 ($8.18) on Friday. The firm has a market cap of $2.20 billion and a PE ratio of 6.80. The company has a debt-to-equity ratio of 5.05, a quick ratio of 0.33 and a current ratio of 3.35. The firm’s 50 day moving average price is GBX 601.52 and its 200-day moving average price is GBX 578.56. Redrow has a one year low of GBX 478.59 ($6.25) and a one year high of GBX 676.73 ($8.84).

The company also recently announced a dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, September 19th will be paid a dividend of GBX 20.50 ($0.27) per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 3.5%. This is an increase from Redrow’s previous dividend of $10.00. Redrow’s payout ratio is presently 0.34%.

In related news, insider John F. Tutte sold 138,882 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of GBX 607 ($7.93), for a total transaction of £843,013.74 ($1,101,546.77). Also, insider John F. Tutte sold 23,961 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of GBX 591 ($7.72), for a total transaction of £141,609.51 ($185,037.91).

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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Analyst Recommendations for Redrow (LON:RDW)

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