Redrow (LON:RDW) Shares Pass Above 200 Day Moving Average of $605.87

Redrow plc (LON:RDW)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 605.87 ($7.61) and traded as high as GBX 696.34 ($8.75). Redrow shares last traded at GBX 694.50 ($8.72), with a volume of 299,075 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on RDW. Berenberg Bank cut shares of Redrow to a “hold” rating and raised their target price for the stock from GBX 643 ($8.08) to GBX 688 ($8.64) in a report on Friday, March 22nd. Royal Bank of Canada lowered Redrow to a “sector perform” rating and set a GBX 750 ($9.42) price objective for the company. in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised Redrow to a “neutral” rating and increased their target price for the stock from GBX 410 ($5.15) to GBX 760 ($9.55) in a research report on Friday, April 12th. Finally, Citigroup reissued a “neutral” rating and set a GBX 756 ($9.50) price target on shares of Redrow in a report on Friday, February 9th. 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, Redrow presently has a consensus rating of “Hold” and a consensus target price of GBX 699.50 ($8.79).

Redrow Trading Down 0.6 %

The firm has a 50-day moving average of GBX 655.30 and a 200 day moving average of GBX 605.87. The company has a current ratio of 4.08, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of £2.28 billion, a price-to-earnings ratio of 1,085.16, a PEG ratio of -0.81 and a beta of 1.67.

Insider Activity at Redrow

In related news, insider Matthew Pratt sold 27,430 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 653 ($8.20), for a total value of £179,117.90 ($225,022.49). Company insiders own 25.31% 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.