Redrow plc (RDW) Downgraded by Barclays PLC
Barclays PLC downgraded shares of Redrow plc (LON:RDW) to an equal weight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has GBX 688 ($9.08) price target on the stock.
RDW has been the topic of a number of other reports. J P Morgan Chase & Co lifted their price target on Redrow plc from GBX 600 ($7.92) to GBX 650 ($8.58) and gave the company an overweight rating in a research note on Friday, September 29th. Peel Hunt reissued a buy rating and set a GBX 740 ($9.77) price target on shares of Redrow plc in a research note on Tuesday, September 12th. Beaufort Securities reissued a buy rating and set a GBX 720 ($9.50) price target on shares of Redrow plc in a research note on Wednesday, September 6th. Liberum Capital lifted their price target on Redrow plc from GBX 601 ($7.93) to GBX 734 ($9.69) and gave the company a buy rating in a research note on Tuesday, October 24th. Finally, Bank of America Corporation lifted their price target on Redrow plc from GBX 455 ($6.00) to GBX 530 ($6.99) and gave the company an underperform rating in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of GBX 672.50 ($8.87).
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The business also recently disclosed a dividend, which will be paid on Tuesday, November 14th. Investors of record on Thursday, September 21st will be paid a GBX 11 ($0.15) dividend. This is a positive change from Redrow plc’s previous dividend of $6.00. This represents a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 21st.
In other Redrow plc news, insider Vanda Murray bought 3,500 shares of the stock in a transaction on Monday, September 25th. The stock was acquired at an average cost of GBX 562 ($7.42) per share, for a total transaction of £19,670 ($25,956.72). Also, insider Steve Morgan sold 12,950,000 shares of Redrow plc stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of GBX 590 ($7.79), for a total value of £76,405,000 ($100,824,755.87). Over the last ninety days, insiders sold 13,053,353 shares of company stock worth $7,704,486,599.
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.
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