Barratt Redrow (OTCMKTS:BTDPY) Shares Gap Down – Here’s Why

Barratt Redrow plc. (OTCMKTS:BTDPY) gapped down before the market opened on Friday . The stock had previously closed at $7.92, but opened at $7.68. Barratt Redrow shares last traded at $7.65, with a volume of 2,714 shares.

Analysts Set New Price Targets

A number of brokerages have commented on BTDPY. Berenberg Bank upgraded shares of Barratt Redrow from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Barclays lowered Barratt Redrow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, UBS Group assumed coverage on Barratt Redrow in a research note on Wednesday. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Barratt Redrow has a consensus rating of “Moderate Buy”.

Barratt Redrow Stock Performance

The stock’s 50-day moving average price is $8.09 and its two-hundred day moving average price is $7.60.

About Barratt Redrow

Barratt Redrow plc is a United Kingdom-based residential property developer formed through the combination of Barratt Developments and Redrow. The group designs and builds new homes for private buyers, affordable-housing providers and other institutional customers.

The company operates through established housing brands that include Barratt Homes, David Wilson Homes, Barratt London and Redrow. Its activities cover land acquisition, planning, site development and construction, as well as the sale of houses and apartments in a range of locations and price segments.

Barratt Redrow serves communities across England, Wales and Scotland.