Redrow plc (RDW) Stock Rating Reaffirmed by Shore Capital

Redrow plc (LON:RDW)‘s stock had its “hold” rating reiterated by investment analysts at Shore Capital in a research note issued on Tuesday. They presently have a GBX 607 ($7.98) price objective on the stock. Shore Capital’s target price indicates a potential upside of 2.36% from the company’s current price.

A number of other equities analysts have also recently commented on the company. J P Morgan Chase & Co restated an “overweight” rating on shares of Redrow plc in a report on Friday. Peel Hunt restated a “buy” rating and set a GBX 740 ($9.73) target price on shares of Redrow plc in a report on Thursday, November 9th. Liberum Capital restated a “buy” rating and set a GBX 734 ($9.65) target price on shares of Redrow plc in a report on Thursday, November 9th. HSBC Holdings plc raised their target price on Redrow plc from GBX 582 ($7.65) to GBX 734 ($9.65) and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Barclays PLC cut Redrow plc to an “equal weight” rating and set a GBX 688 ($9.05) target price for the company. in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of GBX 667.46 ($8.78).

Redrow plc (RDW) opened at GBX 593 ($7.80) on Tuesday. Redrow plc has a twelve month low of GBX 403.55 ($5.31) and a twelve month high of GBX 673.50 ($8.86).

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In other news, insider Barbara Richmond sold 7,240 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of GBX 553 ($7.27), for a total transaction of £40,037.20 ($52,659.74). Also, insider Steve Morgan sold 12,950,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.76), for a total value of £76,405,000 ($100,493,226.36). Insiders sold a total of 13,053,353 shares of company stock valued at $7,704,486,599 in the last quarter.

Redrow plc Company Profile

Redrow PLC is engaged in residential housing development. The Company is engaged in constructing homes throughout England and Wales. The Company’s operations are focused on housebuilding. Its product range is focused on traditional family housing in its regional businesses and apartment schemes in Greater London.

Analyst Recommendations for Redrow plc (LON:RDW)

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