Redrow plc (RDW) PT Raised to GBX 734 at HSBC Holdings plc
Redrow plc (LON:RDW) had its price objective upped by investment analysts at HSBC Holdings plc from GBX 582 ($7.68) to GBX 734 ($9.69) in a report issued on Monday. The brokerage presently has a “buy” rating on the stock. HSBC Holdings plc’s target price suggests a potential upside of 13.36% from the company’s current price.
A number of other brokerages have also recently issued reports on RDW. Barclays PLC cut Redrow plc to an “equal weight” rating and set a GBX 688 ($9.08) target price on the stock. in a report on Monday. Beaufort Securities restated a “buy” rating and issued a GBX 720 ($9.50) target price on shares of Redrow plc in a report on Wednesday, September 6th. J P Morgan Chase & Co restated an “overweight” rating and issued a GBX 600 ($7.92) target price on shares of Redrow plc in a report on Wednesday, September 6th. Liberum Capital lifted their target price on Redrow plc from GBX 601 ($7.93) to GBX 734 ($9.69) and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 740 ($9.77) target price on shares of Redrow plc in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 672.50 ($8.87).
Shares of Redrow plc (RDW) traded up 0.54% during mid-day trading on Monday, hitting GBX 651.00. The stock had a trading volume of 1,218,634 shares. The company has a 50 day moving average price of GBX 605.26 and a 200 day moving average price of GBX 579.66. The firm’s market cap is GBX 2.35 billion. Redrow plc has a 12-month low of GBX 366.50 and a 12-month high of GBX 673.50.
In related news, insider Steve Morgan sold 12,950,000 shares of Redrow plc stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.79), for a total transaction of £76,405,000 ($100,824,755.87). Also, insider John F. Tutte sold 89,447 shares of Redrow plc stock in a transaction on Friday, September 8th. The shares were sold at an average price of GBX 627 ($8.27), for a total value of £560,832.69 ($740,080.09). In the last ninety days, insiders sold 13,053,353 shares of company stock valued at $7,704,486,599.
Redrow plc Company Profile
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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