Redrow (LON:RDW) Downgraded by Goldman Sachs Group

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Goldman Sachs Group lowered shares of Redrow (LON:RDW) to a sell rating in a research report released on Thursday, ThisIsMoney.Co.Uk reports.

Several other analysts have also recently weighed in on the stock. HSBC boosted their price objective on shares of Redrow from GBX 690 ($9.02) to GBX 790 ($10.32) and gave the stock a buy rating in a research note on Tuesday, March 26th. Berenberg Bank reduced their price objective on shares of Redrow from GBX 710 ($9.28) to GBX 690 ($9.02) and set a buy rating on the stock in a research note on Friday, February 15th. JPMorgan Chase & Co. reissued an overweight rating on shares of Redrow in a research note on Friday, March 22nd. Finally, Shore Capital cut shares of Redrow to a hold rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of GBX 669.18 ($8.74).

Shares of Redrow stock opened at GBX 543 ($7.10) on Thursday. The company has a current ratio of 3.27, a quick ratio of 0.20 and a debt-to-equity ratio of 0.06. Redrow has a twelve month low of GBX 478.59 ($6.25) and a twelve month high of GBX 676.73 ($8.84). The firm has a market capitalization of $1.87 billion and a P/E ratio of 5.93.

About Redrow

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.

See Also: Margin

Analyst Recommendations for Redrow (LON:RDW)

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