Berenberg Bank Issues Pessimistic Forecast for Barratt Redrow (LON:BTRW) Stock Price

Barratt Redrow (LON:BTRW) had its target price decreased by equities researchers at Berenberg Bank from GBX 540 ($7.25) to GBX 485 ($6.51) in a report released on Tuesday, MarketBeat reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s price objective would suggest a potential upside of 29.44% from the stock’s current price.

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

Barratt Redrow Stock Performance

BTRW opened at GBX 374.70 ($5.03) on Tuesday. The company’s 50 day moving average is GBX 452.06 and its 200-day moving average is GBX 439.41. Barratt Redrow has a 1-year low of GBX 362.50 ($4.86) and a 1-year high of GBX 507.40 ($6.81).

Insider Transactions at Barratt Redrow

In related news, insider Mike Scott purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The shares were bought at an average cost of GBX 386 ($5.18) per share, with a total value of £9,650 ($12,949.54).

Barratt Redrow Company Profile

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.