JPMorgan Chase & Co. upgraded shares of Redrow (LON:RDW – Free Report) to a neutral rating in a research note published on Friday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has GBX 760 ($9.46) price target on the stock, up from their previous price target of GBX 410 ($5.10).
Several other analysts also recently commented on RDW. Royal Bank of Canada downgraded shares of Redrow to a sector perform rating and set a GBX 750 ($9.34) price objective for the company. in a research report on Thursday, March 21st. Berenberg Bank downgraded shares of Redrow to a hold rating and raised their price objective for the stock from GBX 643 ($8.00) to GBX 688 ($8.56) in a research report on Friday, March 22nd. Finally, Citigroup reaffirmed a neutral rating and set a GBX 756 ($9.41) price objective on shares of Redrow in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of GBX 699.50 ($8.71).
Check Out Our Latest Analysis on Redrow
Redrow Stock Performance
Redrow Cuts Dividend
The business also recently disclosed a dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, February 22nd were paid a dividend of GBX 5 ($0.06) per share. This represents a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 22nd. Redrow’s dividend payout ratio (DPR) is presently 3,906.25%.
Insider Transactions at Redrow
In related news, insider Matthew Pratt sold 27,430 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 653 ($8.13), for a total value of £179,117.90 ($222,977.59). Company insiders own 25.12% of the company’s stock.
About Redrow
Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.
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