Shares of Redrow plc (LON:RDW – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 605.87 ($7.61) and traded as high as GBX 696.34 ($8.75). Redrow shares last traded at GBX 694.50 ($8.72), with a volume of 299,075 shares trading hands.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RDW. Royal Bank of Canada downgraded Redrow to a “sector perform” rating and set a GBX 750 ($9.42) price objective on the stock. in a report on Thursday, March 21st. Citigroup reiterated a “neutral” rating and issued a GBX 756 ($9.50) price objective on shares of Redrow in a report on Friday, February 9th. Berenberg Bank cut Redrow to a “hold” rating and boosted their target price for the stock from GBX 643 ($8.08) to GBX 688 ($8.64) in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised Redrow to a “neutral” rating and boosted their target price for the stock from GBX 410 ($5.15) to GBX 760 ($9.55) in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Redrow has an average rating of “Hold” and a consensus price target of GBX 699.50 ($8.79).
Redrow Trading Down 0.6 %
Insider Transactions at Redrow
In other news, insider Matthew Pratt sold 27,430 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 653 ($8.20), for a total transaction of £179,117.90 ($225,022.49). Company insiders own 25.31% of the company’s stock.
About Redrow
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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