Redrow (LON:RDW) Lifted to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Redrow (LON:RDW) to a neutral rating in a report published on Friday, Marketbeat Ratings reports. They currently have GBX 760 ($9.62) price target on the stock, up from their prior price target of GBX 410 ($5.19).

Several other research firms have also recently issued reports on RDW. Citigroup restated a neutral rating and set a GBX 756 ($9.57) target price on shares of Redrow in a research note on Friday, February 9th. Royal Bank of Canada cut Redrow to a sector perform rating and set a GBX 750 ($9.49) price objective on the stock. in a research report on Thursday, March 21st. Finally, Berenberg Bank lowered Redrow to a hold rating and increased their price target for the stock from GBX 643 ($8.14) to GBX 688 ($8.71) in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of GBX 699.50 ($8.85).

Redrow Price Performance

RDW stock opened at GBX 657.28 ($8.32) on Friday. The firm has a 50 day moving average price of GBX 658.28 and a 200-day moving average price of GBX 585.45. The firm has a market capitalization of £2.17 billion, a price-to-earnings ratio of 1,014.06, a PEG ratio of -0.81 and a beta of 1.66. Redrow has a 52-week low of GBX 423.63 ($5.36) and a 52-week high of GBX 700 ($8.86). The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 4.08.

Redrow Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, February 22nd were given a dividend of GBX 5 ($0.06) per share. This represents a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 22nd. Redrow’s dividend payout ratio is presently 3,906.25%.

Insider Activity

In other Redrow news, insider Matthew Pratt sold 27,430 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.26), for a total transaction of £179,117.90 ($226,702.82). Insiders own 25.12% of the company’s stock.

Redrow Company Profile

Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.