Redrow (LON:RDW) Price Target Raised to GBX 510

Redrow (LON:RDW) had its price target raised by JPMorgan Chase & Co. from GBX 420 ($5.52) to GBX 510 ($6.71) in a research report sent to investors on Tuesday, Stock Target Advisor reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on RDW. Credit Suisse Group began coverage on Redrow in a research note on Tuesday, February 4th. They issued an outperform rating and a GBX 930 ($12.23) price objective for the company. Berenberg Bank decreased their price objective on Redrow from GBX 860 ($11.31) to GBX 540 ($7.10) and set a buy rating for the company in a research note on Friday, March 27th. Liberum Capital reiterated a hold rating on shares of Redrow in a research note on Monday, April 27th. Canaccord Genuity reiterated a buy rating and issued a GBX 560 ($7.37) price objective on shares of Redrow in a research note on Thursday, May 14th. Finally, HSBC decreased their price objective on Redrow from GBX 1,100 ($14.47) to GBX 410 ($5.39) and set a buy rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of GBX 642.64 ($8.45).

Shares of Redrow stock opened at GBX 481.80 ($6.34) on Tuesday. The business has a 50-day moving average of GBX 444.02 and a 200 day moving average of GBX 619.89. Redrow has a 12 month low of GBX 293 ($3.85) and a 12 month high of GBX 850.76 ($11.19). The stock has a market capitalization of $1.75 billion and a price-to-earnings ratio of 5.79. The company has a debt-to-equity ratio of 4.57, a current ratio of 3.56 and a quick ratio of 0.20.

About Redrow

Redrow plc focuses on housebuilding activities in the United Kingdom. The company acquires land; and develops residential housing properties. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.

See Also: Preferred Stock

Analyst Recommendations for Redrow (LON:RDW)

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