Redrow plc (RDW) Receives Consensus Rating of “Buy” from Brokerages
Shares of Redrow plc (LON:RDW) have been given an average recommendation of “Buy” by the fourteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is GBX 641.33 ($8.52).
A number of research analysts have recently weighed in on RDW shares. Peel Hunt reissued a “buy” rating and set a GBX 740 ($9.83) price objective on shares of Redrow plc in a research note on Tuesday, September 12th. Liberum Capital raised their price objective on shares of Redrow plc from GBX 561 ($7.45) to GBX 601 ($7.99) and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC raised their price objective on shares of Redrow plc from GBX 666 ($8.85) to GBX 682 ($9.06) and gave the stock a “buy” rating in a research note on Monday, June 26th. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 600 ($7.97) price objective on shares of Redrow plc in a research note on Friday, July 7th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a GBX 549 ($7.29) target price on shares of Redrow plc in a research note on Friday, September 1st.
Redrow plc (LON RDW) traded up 1.27% during midday trading on Wednesday, hitting GBX 638.00. The stock had a trading volume of 678,434 shares. Redrow plc has a 12-month low of GBX 366.50 and a 12-month high of GBX 666.00. The stock has a 50-day moving average price of GBX 598.68 and a 200 day moving average price of GBX 572.83. The firm’s market cap is GBX 2.30 billion.
The business also recently disclosed a dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, September 21st will be paid a dividend of GBX 11 ($0.15) per share. The ex-dividend date is Thursday, September 21st. This is a boost from Redrow plc’s previous dividend of $6.00. This represents a dividend yield of 1.74%.
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In related news, insider Vanda Murray acquired 3,500 shares of the stock in a transaction dated Monday, September 25th. The stock was bought at an average cost of GBX 562 ($7.47) per share, with a total value of £19,670 ($26,136.06). Also, insider Barbara Richmond sold 7,240 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of GBX 553 ($7.35), for a total transaction of £40,037.20 ($53,198.51). Insiders have sold a total of 13,053,353 shares of company stock valued at $7,704,486,599 over the last three months.
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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