Redrow plc’s (RDW) “Buy” Rating Reaffirmed at Peel Hunt

Peel Hunt reiterated their buy rating on shares of Redrow plc (LON:RDW) in a report published on Wednesday morning. Peel Hunt currently has a GBX 740 ($9.95) price objective on the stock.

Several other brokerages have also recently issued reports on RDW. Beaufort Securities reaffirmed a buy rating and set a GBX 720 ($9.68) price objective on shares of Redrow plc in a report on Wednesday, September 6th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 600 ($8.07) price objective on shares of Redrow plc in a report on Wednesday, September 6th. Barclays PLC reaffirmed an overweight rating and set a GBX 688 ($9.25) price objective on shares of Redrow plc in a report on Wednesday, September 6th. Liberum Capital reaffirmed a buy rating and set a GBX 601 ($8.08) price objective on shares of Redrow plc in a report on Tuesday, September 12th. Finally, Shore Capital reaffirmed a hold rating on shares of Redrow plc in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Redrow plc presently has an average rating of Buy and an average target price of GBX 641.33 ($8.62).

Redrow plc (LON RDW) opened at 592.50 on Wednesday. The firm’s 50-day moving average is GBX 594.95 and its 200-day moving average is GBX 559.92. The company’s market capitalization is GBX 2.14 billion. Redrow plc has a 12 month low of GBX 366.50 and a 12 month high of GBX 666.00.

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The firm also recently disclosed a dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, September 21st will be given a GBX 11 ($0.15) dividend. This represents a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 21st. This is an increase from Redrow plc’s previous dividend of $6.00.

In other news, insider Steve Morgan sold 12,950,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.93), for a total transaction of £76,405,000 ($102,750,134.48). Also, insider Vanda Murray purchased 3,500 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were purchased at an average cost of GBX 562 ($7.56) per share, for a total transaction of £19,670 ($26,452.39). Insiders have sold a total of 13,053,353 shares of company stock worth $7,704,486,599 in the last three months.

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.

Analyst Recommendations for Redrow plc (LON:RDW)

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