Redrow (LON:RDW) Stock Price Passes Above 200 Day Moving Average of $622.06

Redrow plc (LON:RDWGet Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 622.06 ($7.91) and traded as high as GBX 722.50 ($9.18). Redrow shares last traded at GBX 717 ($9.11), with a volume of 335,684 shares changing hands.

Analysts Set New Price Targets

Several research firms have commented on RDW. Berenberg Bank lowered Redrow to a “hold” rating and lifted their price target for the stock from GBX 643 ($8.17) to GBX 688 ($8.74) in a research report on Friday, March 22nd. Citigroup reiterated a “neutral” rating and issued a GBX 756 ($9.61) price target on shares of Redrow in a research report on Friday, February 9th. Royal Bank of Canada downgraded shares of Redrow to a “sector perform” rating and set a GBX 750 ($9.53) price objective on the stock. in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. upgraded shares of Redrow to a “neutral” rating and lifted their price objective for the company from GBX 410 ($5.21) to GBX 760 ($9.66) in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of GBX 699.50 ($8.89).

Read Our Latest Analysis on Redrow

Redrow Price Performance

The company has a market cap of £2.41 billion, a price-to-earnings ratio of 1,136.72, a price-to-earnings-growth ratio of -0.81 and a beta of 1.67. The company has a fifty day simple moving average of GBX 668.95 and a two-hundred day simple moving average of GBX 624.32. The company has a quick ratio of 0.36, a current ratio of 4.08 and a debt-to-equity ratio of 0.49.

Insider Activity at Redrow

In other news, insider Matthew Pratt sold 27,430 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.30), for a total transaction of £179,117.90 ($227,653.66). 25.32% of the stock is owned by corporate insiders.

Redrow Company Profile

(Get Free Report)

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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