Beaufort Securities Reiterates Buy Rating for Redrow plc (RDW)
Redrow plc (LON:RDW)‘s stock had its “buy” rating restated by equities research analysts at Beaufort Securities in a research report issued on Wednesday. They currently have a GBX 720 ($9.30) price objective on the stock. Beaufort Securities’ price target points to a potential upside of 14.20% from the stock’s previous close.
A number of other analysts have also issued reports on the company. Liberum Capital reiterated a “buy” rating and issued a GBX 601 ($7.76) price target on shares of Redrow plc in a report on Tuesday, September 5th. Barclays PLC reiterated an “overweight” rating and issued a GBX 688 ($8.89) price target on shares of Redrow plc in a report on Wednesday. J P Morgan Chase & Co reiterated an “overweight” rating and issued a GBX 600 ($7.75) price target on shares of Redrow plc in a report on Wednesday. Peel Hunt boosted their price target on Redrow plc from GBX 675 ($8.72) to GBX 740 ($9.56) and gave the company a “buy” rating in a report on Tuesday, September 5th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a GBX 549 ($7.09) price target on shares of Redrow plc in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 646.91 ($8.35).
Redrow plc (LON:RDW) traded up 0.32% during midday trading on Wednesday, reaching GBX 630.50. The company’s stock had a trading volume of 620,605 shares. Redrow plc has a 12-month low of GBX 366.50 and a 12-month high of GBX 666.00. The firm’s market cap is GBX 2.29 billion. The company’s 50-day moving average is GBX 597.91 and its 200 day moving average is GBX 554.81.
Redrow plc (LON:RDW) last announced its earnings results on Monday, September 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Redrow plc had a return on equity of 21.11% and a net margin of 15.16%. Equities analysts forecast that Redrow plc will post $63.36 earnings per share for the current year.
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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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