Taylor Wimpey (LON:TW) to Repurchase 0 Outstanding Shares

Taylor Wimpey (LON:TW) announced that its board has authorized a stock buyback plan on Thursday, March 5th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization permits the homebuilder to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

TW has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on Taylor Wimpey in a research report on Monday, November 24th. They issued a “neutral” rating and a GBX 109 price objective for the company. Citigroup reduced their price target on shares of Taylor Wimpey from GBX 143 to GBX 137 and set a “buy” rating on the stock in a research note on Friday, January 16th. Stifel Nicolaus restated a “buy” rating and issued a GBX 120 price target on shares of Taylor Wimpey in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Taylor Wimpey from GBX 140 to GBX 120 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 128 target price on shares of Taylor Wimpey in a report on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 125.33.

Taylor Wimpey Price Performance

Taylor Wimpey stock traded down GBX 2.75 during midday trading on Thursday, hitting GBX 101.90. 36,380,893 shares of the stock were exchanged, compared to its average volume of 2,409,451. The stock has a market cap of £3.66 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 2.04 and a beta of 1.35. The company has a 50-day simple moving average of GBX 109.13 and a 200 day simple moving average of GBX 104.32. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.71 and a current ratio of 4.58.

Taylor Wimpey (LON:TW) last posted its quarterly earnings results on Thursday, March 5th. The homebuilder reported GBX 8 EPS for the quarter. Taylor Wimpey had a net margin of 2.40% and a return on equity of 1.97%. As a group, analysts predict that Taylor Wimpey will post 9.8339265 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark Castle acquired 2,267 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of GBX 102 per share, for a total transaction of £2,312.34. Insiders have purchased 3,117 shares of company stock worth $321,270 over the last quarter. Insiders own 0.87% of the company’s stock.

Taylor Wimpey Company Profile

Taylor Wimpey plc operates as a homebuilder in the United Kingdom and Spain. It builds and delivers various homes and communities. Taylor Wimpey plc was incorporated in 1935 and is based in High Wycombe, the United Kingdom.