Redrow plc (LON:RDW – Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 592.10 ($7.31) and traded as high as GBX 645.50 ($7.97). Redrow shares last traded at GBX 638.50 ($7.89), with a volume of 322,900 shares.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on RDW. JPMorgan Chase & Co. upgraded Redrow to a “neutral” rating and lifted their target price for the stock from GBX 410 ($5.06) to GBX 760 ($9.39) in a research report on Friday, April 12th. Royal Bank of Canada cut Redrow to a “sector perform” rating and set a GBX 750 ($9.26) target price on the stock. in a research report on Thursday, March 21st. Citigroup reiterated a “neutral” rating and set a GBX 756 ($9.34) target price on shares of Redrow in a research report on Friday, February 9th. Finally, Berenberg Bank cut Redrow to a “hold” rating and lifted their target price for the stock from GBX 643 ($7.94) to GBX 688 ($8.50) in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 699.50 ($8.64).
Check Out Our Latest Stock Report on Redrow
Redrow Price Performance
Redrow Cuts Dividend
The business also recently declared a dividend, which was paid on Monday, April 8th. Investors of record on Thursday, February 22nd were given a GBX 5 ($0.06) dividend. This represents a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 22nd. Redrow’s dividend payout ratio (DPR) is presently 3,906.25%.
Insider Activity at Redrow
In related news, insider Matthew Pratt sold 27,430 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 653 ($8.07), for a total value of £179,117.90 ($221,242.47). 25.12% of the stock is currently owned by insiders.
Redrow Company Profile
Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.
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