Redrow plc (RDW) Receives “Buy” Rating from Peel Hunt

Peel Hunt reiterated their buy rating on shares of Redrow plc (LON:RDW) in a research report sent to investors on Tuesday morning. Peel Hunt currently has a GBX 740 ($9.56) target price on the stock.

A number of other brokerages have also commented on RDW. Liberum Capital increased their price target on shares of Redrow plc from GBX 561 ($7.25) to GBX 601 ($7.76) and gave the stock a buy rating in a report on Wednesday, July 19th. J P Morgan Chase & Co reissued an overweight rating and issued a GBX 600 ($7.75) price target on shares of Redrow plc in a report on Wednesday, September 6th. Barclays PLC increased their price target on shares of Redrow plc from GBX 558 ($7.21) to GBX 630 ($8.14) and gave the stock an overweight rating in a report on Thursday, July 13th. Jefferies Group LLC increased their price target on shares of Redrow plc from GBX 666 ($8.60) to GBX 682 ($8.81) and gave the stock a buy rating in a report on Monday, June 26th. Finally, Deutsche Bank AG reissued a hold rating and issued a GBX 549 ($7.09) price target on shares of Redrow plc in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of Buy and an average target price of GBX 637.17 ($8.23).

Shares of Redrow plc (RDW) opened at 586.00 on Tuesday. The firm has a 50-day moving average of GBX 599.28 and a 200-day moving average of GBX 558.07. The firm’s market cap is GBX 2.13 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 business also recently declared a dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, September 21st will be issued a GBX 11 ($0.14) dividend. This is a positive change from Redrow plc’s previous dividend of $6.00. The ex-dividend date is Thursday, September 21st. This represents a dividend yield of 1.74%.

In related news, insider John F. Tutte sold 89,447 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of GBX 627 ($8.10), for a total transaction of £560,832.69 ($724,309.30). Also, insider Steve Morgan sold 12,950,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of GBX 590 ($7.62), for a total transaction of £76,405,000 ($98,676,223.69).

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.

Analyst Recommendations for Redrow plc (LON:RDW)

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