Liberum Capital Reaffirms Buy Rating for Redrow plc (RDW)
Several other research firms also recently weighed in on RDW. J P Morgan Chase & Co reaffirmed an overweight rating and set a GBX 600 ($7.89) price target on shares of Redrow plc in a research note on Wednesday, September 6th. HSBC Holdings plc lifted their price target on shares of Redrow plc from GBX 582 ($7.65) to GBX 734 ($9.65) and gave the company a buy rating in a research note on Monday, October 30th. Barclays PLC lifted their price target on shares of Redrow plc from GBX 558 ($7.34) to GBX 630 ($8.29) and gave the company an overweight rating in a research note on Thursday, July 13th. Deutsche Bank AG reaffirmed a hold rating and set a GBX 549 ($7.22) price target on shares of Redrow plc in a research note on Friday, September 1st. Finally, Numis Securities Ltd downgraded shares of Redrow plc to an add rating and set a GBX 729 ($9.59) price target for the company. in a research note on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of GBX 672.50 ($8.85).
Redrow plc (RDW) traded down GBX 3 ($0.04) during trading on Thursday, hitting GBX 594.50 ($7.82). 1,467,961 shares of the stock traded hands, compared to its average volume of 920,643. Redrow plc has a 1 year low of GBX 403.55 ($5.31) and a 1 year high of GBX 673.50 ($8.86).
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The firm also recently disclosed a dividend, which will be paid on Tuesday, November 14th. Investors of record on Thursday, September 21st will be paid a GBX 11 ($0.14) dividend. This is an increase from Redrow plc’s previous dividend of $6.00. The ex-dividend date is Thursday, September 21st. This represents a yield of 1.74%.
In other Redrow plc news, insider John F. Tutte sold 89,447 shares of Redrow plc stock in a transaction on Friday, September 8th. The shares were sold at an average price of GBX 627 ($8.25), for a total value of £560,832.69 ($737,646.57). Also, insider Steve Morgan sold 12,950,000 shares of Redrow plc stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.76), for a total transaction of £76,405,000 ($100,493,226.36). Insiders sold 13,053,353 shares of company stock valued at $7,704,486,599 in the last three months.
Redrow plc Company Profile
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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