Barratt Redrow (LON:BTRW) Stock Price Down 9.4% Following Analyst Downgrade

Barratt Redrow plc (LON:BTRW)’s share price dropped 9.4% during trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 540 to GBX 485. Berenberg Bank currently has a hold rating on the stock. Barratt Redrow traded as low as GBX 362.50 ($4.86) and last traded at GBX 377.55 ($5.07). Approximately 29,160,699 shares changed hands during mid-day trading, an increase of 176% from the average daily volume of 10,577,514 shares. The stock had previously closed at GBX 416.50 ($5.59).

A number of other brokerages have also issued reports on BTRW. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 536 ($7.19) target price on shares of Barratt Redrow in a research note on Wednesday. Citigroup reduced their price objective on Barratt Redrow from GBX 591 ($7.93) to GBX 510 ($6.84) and set a “buy” rating for the company in a research note on Wednesday. Finally, Royal Bank Of Canada decreased their target price on Barratt Redrow from GBX 575 ($7.72) to GBX 550 ($7.38) and set an “outperform” rating for the company in a report on Wednesday.

Insider Activity

In related news, insider Mike Scott acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was acquired at an average price of GBX 386 ($5.18) per share, with a total value of £9,650 ($12,949.54).

Barratt Redrow Trading Down 0.7%

The stock’s fifty day moving average is GBX 452.06 and its 200-day moving average is GBX 439.41.

About Barratt Redrow

Barratt Redrow plc is an exceptional FTSE 100 listed UK home builder, building the homes the country needs, and dedicated to quality, service and sustainability.

Together, we offer a range of highly respected and complementary brands, Barratt, David Wilson and Redrow.

We put our customers at the heart of everything we do, through our focus on:

✅ Quality – We deliver high-quality, energy-efficient homes which are built to the highest standards.