Redrow (LON:RDW) Upgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. upgraded shares of Redrow (LON:RDW) to a neutral rating in a report released on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has GBX 760 ($9.62) target price on the stock, up from their previous target price of GBX 410 ($5.19).

Other equities analysts have also recently issued research reports about the stock. Berenberg Bank cut shares of Redrow to a hold rating and increased their price objective for the stock from GBX 643 ($8.14) to GBX 688 ($8.71) in a research report on Friday, March 22nd. Royal Bank of Canada cut shares of Redrow to a sector perform rating and set a GBX 750 ($9.49) price target for the company. in a research report on Thursday, March 21st. Finally, Citigroup reissued a neutral rating and issued a GBX 756 ($9.57) price target on shares of Redrow in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of GBX 699.50 ($8.85).

Redrow Stock Performance

LON:RDW opened at GBX 649 ($8.21) on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 4.08. The stock has a market capitalization of £2.15 billion, a P/E ratio of 1,014.06, a PEG ratio of -0.81 and a beta of 1.66. The company has a 50 day moving average price of GBX 658.28 and a 200 day moving average price of GBX 584.31. Redrow has a fifty-two week low of GBX 423.63 ($5.36) and a fifty-two week high of GBX 700 ($8.86).

Redrow Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, February 22nd were issued a GBX 5 ($0.06) dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a dividend yield of 0.83%. Redrow’s payout ratio is 3,906.25%.

Insider Activity

In other news, insider Matthew Pratt sold 27,430 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.26), for a total value of £179,117.90 ($226,702.82). 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.