Redrow plc (RDW) Earns Hold Rating from Canaccord Genuity
Redrow plc (LON:RDW)‘s stock had its “hold” rating reaffirmed by stock analysts at Canaccord Genuity in a research note issued to investors on Tuesday. They presently have a GBX 440 ($5.74) price target on the stock. Canaccord Genuity’s price target would suggest a potential upside of 8.64% from the company’s current price.
A number of other brokerages have also weighed in on RDW. Barclays PLC upped their price objective on Redrow plc from GBX 364.20 ($4.75) to GBX 431.80 ($5.64) and gave the stock an “overweight” rating in a report on Wednesday, September 7th. Deutsche Bank AG upped their price objective on Redrow plc from GBX 495 ($6.46) to GBX 497 ($6.49) and gave the stock a “hold” rating in a report on Wednesday, September 7th. Jefferies Group upped their price objective on Redrow plc from GBX 496 ($6.47) to GBX 515 ($6.72) and gave the stock a “buy” rating in a report on Wednesday, September 7th. Beaufort Securities reaffirmed a “buy” rating on shares of Redrow plc in a report on Wednesday, September 7th. Finally, Liberum Capital reaffirmed a “hold” rating and set a GBX 450 ($5.87) price objective on shares of Redrow plc in a report on Monday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Redrow plc presently has a consensus rating of “Hold” and an average price target of GBX 475.53 ($6.21).
Shares of Redrow plc (LON:RDW) opened at 413.20 on Tuesday. Redrow plc has a 52 week low of GBX 100.00 and a 52 week high of GBX 477.90. The firm has a 50 day moving average price of GBX 385.89 and a 200-day moving average price of GBX 374.57. The firm’s market capitalization is GBX 1.49 billion.
The firm also recently disclosed a dividend, which will be paid on Friday, November 11th. Shareholders of record on Thursday, September 22nd will be paid a dividend of GBX 6 ($0.08) per share. This represents a yield of 1.43%. The ex-dividend date of this dividend is Thursday, September 22nd. This is a positive change from Redrow plc’s previous dividend of $4.00.
In other Redrow plc news, insider Tutte,John F sold 205,268 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of GBX 399 ($5.21), for a total transaction of £819,019.32 ($1,069,076.26).
About Redrow plc
Redrow PLC is a United Kingdom-based company, which is engaged in residential development. The Company’s Harrow Estates, focuses on land and property solutions. Harrow Estates is engaged in site acquisition, problem solving, regeneration and commercial development. The Company also develops mixed use properties.
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