Berenberg Bank Has Lowered Expectations for Taylor Wimpey (LON:TW) Stock Price

Taylor Wimpey (LON:TW) had its price target lowered by equities researchers at Berenberg Bank from GBX 128 to GBX 120 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a “buy” rating on the homebuilder’s stock. Berenberg Bank’s target price indicates a potential upside of 24.69% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 150 target price on shares of Taylor Wimpey in a research report on Friday, January 16th. Citigroup decreased their price target on Taylor Wimpey from GBX 143 to GBX 137 and set a “buy” rating on the stock in a research note on Friday, January 16th. The Goldman Sachs Group began coverage on Taylor Wimpey in a report on Monday, November 24th. They set a “neutral” rating and a GBX 109 price objective on the stock. JPMorgan Chase & Co. reduced their target price on Taylor Wimpey from GBX 140 to GBX 120 and set a “neutral” rating for the company in a report on Thursday, December 4th. Finally, Jefferies Financial Group decreased their target price on shares of Taylor Wimpey from GBX 140 to GBX 132 and set a “buy” rating on the stock in a research report on Monday, January 19th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 124.44.

Taylor Wimpey Trading Down 2.2%

Shares of LON TW traded down GBX 2.20 during midday trading on Tuesday, reaching GBX 96.24. 34,112,868 shares of the company were exchanged, compared to its average volume of 2,409,451. The company’s 50-day moving average is GBX 108.94 and its two-hundred day moving average is GBX 104.37. The company has a current ratio of 4.96, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The company has a market capitalization of £3.46 billion, a PE ratio of 14.04, a P/E/G ratio of 2.04 and a beta of 1.35.

Taylor Wimpey (LON:TW) last announced its earnings results on Thursday, March 5th. The homebuilder reported GBX 8 earnings per share for the quarter. Taylor Wimpey had a return on equity of 2.40% and a net margin of 2.61%. As a group, analysts forecast that Taylor Wimpey will post 9.8339265 earnings per share for the current year.

Taylor Wimpey announced that its Board of Directors has approved a share buyback plan on Thursday, March 5th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the homebuilder to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Mark Castle acquired 2,267 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of GBX 102 per share, for a total transaction of £2,312.34. Also, insider Chris Carney sold 329,993 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of GBX 101, for a total value of £333,292.93. Over the last quarter, insiders acquired 3,137 shares of company stock worth $321,426. 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.