J P Morgan Chase & Co Reaffirms “Overweight” Rating for Redrow plc (LON:RDW)
Redrow plc (LON:RDW)‘s stock had its “overweight” rating reiterated by J P Morgan Chase & Co in a note issued to investors on Friday, Marketbeat reports. They presently have a GBX 600 ($7.77) price objective on the stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 7.72% from the company’s current price.
Several other research analysts have also commented on RDW. Shore Capital reissued a “buy” rating on shares of Redrow plc in a research report on Wednesday, March 22nd. Liberum Capital reissued a “hold” rating and issued a GBX 415 ($5.38) price target on shares of Redrow plc in a research report on Wednesday, March 22nd. Canaccord Genuity boosted their target price on Redrow plc from GBX 540 ($6.99) to GBX 545 ($7.06) and gave the stock a “buy” rating in a research note on Thursday, March 23rd. Peel Hunt boosted their target price on Redrow plc from GBX 620 ($8.03) to GBX 650 ($8.42) and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Finally, Barclays PLC restated an “overweight” rating and set a GBX 558 ($7.23) target price on shares of Redrow plc in a research note on Thursday, March 30th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of GBX 573.67 ($7.43).
Redrow plc (LON:RDW) traded up 0.27% during midday trading on Friday, hitting GBX 557.00. The stock had a trading volume of 344,815 shares. Redrow plc has a 52-week low of GBX 268.54 and a 52-week high of GBX 597.50. The company’s 50 day moving average price is GBX 560.00 and its 200-day moving average price is GBX 505.13. The stock’s market cap is GBX 2.02 billion.
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In other Redrow plc news, insider Barbara Richmond sold 60,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of GBX 582 ($7.54), for a total transaction of £349,200 ($452,331.61).
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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