Vistry Group (LON:VTY) Trading Down 18.8% – Here’s What Happened

Shares of Vistry Group PLC (LON:VTY) fell 18.8% during trading on Wednesday . The company traded as low as GBX 474.10 and last traded at GBX 512.79. 55,422,012 shares changed hands during trading, an increase of 1,026% from the average session volume of 4,921,739 shares. The stock had previously closed at GBX 631.60.

Wall Street Analyst Weigh In

VTY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Vistry Group from GBX 684 to GBX 803 and gave the company a “buy” rating in a report on Wednesday, January 14th. The Goldman Sachs Group assumed coverage on Vistry Group in a research note on Monday, November 24th. They issued a “buy” rating and a GBX 731 price objective on the stock. Jefferies Financial Group lifted their price objective on Vistry Group from GBX 608 to GBX 659 and gave the company a “hold” rating in a research note on Monday, January 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vistry Group from GBX 570 to GBX 640 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 629.25.

Vistry Group Stock Performance

The stock has a 50 day simple moving average of GBX 672.94 and a 200 day simple moving average of GBX 647.62. The company has a quick ratio of 0.56, a current ratio of 2.77 and a debt-to-equity ratio of 26.00. The company has a market cap of £1.64 billion, a price-to-earnings ratio of 45.98, a PEG ratio of -0.20 and a beta of 1.69.

Vistry Group announced that its Board of Directors has approved a stock repurchase plan on Monday, February 2nd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About Vistry Group

Vistry Group is a leading homebuilder developing in partnership to deliver sustainable homes, communities, and social value, leaving a lasting legacy of places where people love to live.

Operating across 25 regions, we build homes for those who need them right across the UK. Our partners include Registered Providers, Local Authorities, Homes England and Private Rented Sector providers.

Our timber manufacturing capability, Vistry Works, is at the core of our strategy to deliver more quality homes, faster.

We sell homes on the open market through three respected brands: Bovis Homes, Linden Homes, and Countryside Homes.