Berenberg Bank Reaffirms Buy Rating for Barratt Redrow (LON:BTRW)

Key Points

• Berenberg Bank reaffirmed its “buy” rating on Barratt Redrow and set a GBX 370 price target, implying 22.8% upside from the prior close.
• Analyst sentiment remains positive overall, with eight “buy” ratings and two “hold” ratings; the consensus is “Moderate Buy” with an average target of GBX 375.30.
• Barratt Redrow shares opened at GBX 301.30, while recent insider purchases included acquisitions by Katie Bickerstaffe and Geeta Nanda.

Barratt Redrow (LON:BTRW - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Berenberg Bank in a research note issued on Monday, Digital Look reports. They presently have a GBX 370 target price on the stock. Berenberg Bank's price target would indicate a potential upside of 22.80% from the stock's previous close.

Several other equities analysts have also issued reports on BTRW. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Barratt Redrow from GBX 454 to GBX 366 and set a "buy" rating for the company in a report on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their price objective on Barratt Redrow from GBX 520 to GBX 350 and set an "overweight" rating for the company in a research report on Tuesday, June 16th. Jefferies Financial Group reiterated a "hold" rating and set a GBX 303 price objective on shares of Barratt Redrow in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 350 target price on shares of Barratt Redrow in a report on Wednesday, September 16th. Finally, Citigroup cut Barratt Redrow to a "buy" rating in a research note on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Barratt Redrow presently has a consensus rating of "Moderate Buy" and an average price target of GBX 375.30.

Barratt Redrow Stock Down 1.4%

Shares of BTRW stock opened at GBX 301.30 on Monday. The business's fifty day moving average is GBX 304.12 and its 200 day moving average is GBX 280.51. The stock has a market cap of £4.17 billion, a price-to-earnings ratio of 20.22 and a beta of 1.37. Barratt Redrow has a twelve month low of GBX 235.40 and a twelve month high of GBX 410.29.

Barratt Redrow (LON:BTRW - Get Free Report) last announced its earnings results on Wednesday, September 16th. The company reported GBX 26.10 EPS for the quarter. Barratt Redrow had a net margin of 4.02% and a return on equity of 3.13%.

Insider Buying and Selling

In other Barratt Redrow news, insider Katie Bickerstaffe acquired 6,526 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of GBX 305 per share, with a total value of £19,904.30. Also, insider Geeta Nanda bought 1,701 shares of the business's stock in a transaction on Wednesday, July 22nd. The shares were acquired at an average price of GBX 294 per share, for a total transaction of £5,000.94. 0.31% of the stock is owned by insiders.

Barratt Redrow Company Profile

Barratt Redrow plc is an exceptional FTSE 100 listed UK home builder, building the homes the country needs, and dedicated to quality, service and sustainability. Together, we offer a range of highly respected and complementary brands, Barratt, David Wilson and Redrow. We put our customers at the heart of everything we do, through our focus on: ✅ Quality - We deliver high-quality, energy-efficient homes which are built to the highest standards. Together, we have held more NHBC Pride in the Job Awards than any other housebuilder, for 20 years.

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