Redrow (LON:RDW) Sets New 12-Month High on Analyst Upgrade

Redrow plc (LON:RDW)’s share price hit a new 52-week high during trading on Thursday after Liberum Capital raised their price target on the stock from GBX 850 to GBX 920. Liberum Capital currently has a buy rating on the stock. Redrow traded as high as GBX 811 ($10.67) and last traded at GBX 808 ($10.63), with a volume of 1460426 shares changing hands. The stock had previously closed at GBX 791 ($10.41).

A number of other equities research analysts also recently commented on the company. Deutsche Bank lifted their target price on Redrow from GBX 704 ($9.26) to GBX 891 ($11.72) and gave the stock a “buy” rating in a report on Tuesday, January 14th. Shore Capital reiterated a “hold” rating on shares of Redrow in a research report on Wednesday, November 6th. Canaccord Genuity increased their price target on shares of Redrow from GBX 700 ($9.21) to GBX 840 ($11.05) and gave the stock a “buy” rating in a report on Tuesday, January 7th. Peel Hunt reissued a “buy” rating on shares of Redrow in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 930 ($12.23) price objective on shares of Redrow in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of GBX 850.91 ($11.19).

In related news, insider Graham Cope sold 150,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of GBX 664 ($8.73), for a total transaction of £996,000 ($1,310,181.53). Also, insider John F. Tutte purchased 28,249 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of GBX 88 ($1.16) per share, for a total transaction of £24,859.12 ($32,700.76).

The stock has a market cap of $2.91 billion and a PE ratio of 9.63. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.20 and a current ratio of 3.56. The company has a 50 day moving average of GBX 778.86 and a two-hundred day moving average of GBX 660.15.

The firm also recently disclosed a dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 5th will be issued a GBX 10.50 ($0.14) dividend. This represents a yield of 1.29%. The ex-dividend date of this dividend is Thursday, March 5th. Redrow’s payout ratio is currently 0.36%.

Redrow Company Profile (LON:RDW)

Redrow plc focuses on housebuilding activities in the United Kingdom. The company acquires land; and develops residential housing properties. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.

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