Redrow plc (RDW) Earns “Buy” Rating from Peel Hunt
A number of other equities research analysts also recently commented on RDW. Deutsche Bank AG lifted their price objective on Redrow plc from GBX 548 ($7.08) to GBX 549 ($7.09) and gave the company a hold rating in a research report on Wednesday, May 31st. Liberum Capital reaffirmed a buy rating and issued a GBX 561 ($7.25) price objective on shares of Redrow plc in a research report on Friday, June 9th. Jefferies Group LLC lifted their price objective on Redrow plc from GBX 666 ($8.60) to GBX 682 ($8.81) and gave the company a buy rating in a research report on Monday, June 26th. J P Morgan Chase & Co reaffirmed an overweight rating and issued a GBX 600 ($7.75) price objective on shares of Redrow plc in a research report on Friday, July 7th. Finally, Barclays PLC lifted their price objective on Redrow plc from GBX 558 ($7.21) to GBX 630 ($8.14) and gave the company an overweight rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of GBX 637.17 ($8.23).
Redrow plc (LON RDW) opened at 548.50 on Tuesday. Redrow plc has a 52 week low of GBX 366.50 and a 52 week high of GBX 666.00. The stock has a 50 day moving average price of GBX 598.01 and a 200 day moving average price of GBX 558.21. The firm’s market cap is GBX 1.98 billion.
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The company also recently declared a dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, September 21st will be given a dividend of GBX 11 ($0.14) per share. This represents a yield of 1.74%. The ex-dividend date is Thursday, September 21st. This is an increase from Redrow plc’s previous dividend of $6.00.
In other Redrow plc news, insider Steve Morgan sold 12,950,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.62), for a total transaction of £76,405,000 ($98,676,223.69). Also, insider Graham Cope sold 6,666 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of GBX 585 ($7.56), for a total value of £38,996.10 ($50,363.04). In the last three months, insiders have sold 13,046,113 shares of company stock valued at $7,700,482,879.
About Redrow plc
Redrow PLC is engaged in residential housing development. The Company is engaged in constructing homes throughout England and Wales. The Company’s operations are focused on housebuilding. Its product range is focused on traditional family housing in its regional businesses and apartment schemes in Greater London.
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