Barratt Redrow (LON:BTRW) Price Target Cut to GBX 280 by Analysts at Bank of America

Key Points

• Bank of America cut its price target to GBX 280 (from GBX 400) and maintained a "neutral" rating, implying roughly a 10.7% upside from the current price.
• Analyst views diverge — Citigroup raised its target to GBX 530 with a "buy", Jefferies and RBC trimmed targets to GBX 414 and GBX 425 respectively, while the MarketBeat consensus is a Moderate Buy with a target of GBX 456.56.
• Insiders made recent purchases (Nigel Webb bought 15,000 shares at GBX 329; Katie Bickerstaffe bought 5,789 shares at GBX 323), though insiders own only 0.30% of the company.

Barratt Redrow (LON:BTRW - Get Free Report) had its price objective dropped by equities research analysts at Bank of America from GBX 400 to GBX 280 in a report released on Friday,London Stock Exchange reports. The firm currently has a "neutral" rating on the stock. Bank of America's target price indicates a potential upside of 10.67% from the company's current price.

Several other research analysts have also recently commented on the stock. Citigroup upped their target price on shares of Barratt Redrow from GBX 506 to GBX 530 and gave the stock a "buy" rating in a research report on Monday, December 8th. Jefferies Financial Group cut their price target on Barratt Redrow from GBX 447 to GBX 414 and set a "hold" rating on the stock in a report on Monday, January 19th. Finally, Royal Bank Of Canada decreased their price objective on Barratt Redrow from GBX 450 to GBX 425 and set a "sector perform" rating for the company in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 456.56.

Barratt Redrow Stock Performance

Shares of BTRW opened at GBX 253 on Friday. The firm has a fifty day moving average of GBX 347.72 and a 200-day moving average of GBX 368.53. The company has a market cap of £3.57 billion, a price-to-earnings ratio of 16.98 and a beta of 1.30. Barratt Redrow has a 1 year low of GBX 249.30 and a 1 year high of GBX 486.50.

Barratt Redrow (LON:BTRW - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported GBX 9.30 earnings per share for the quarter. Barratt Redrow had a net margin of 3.60% and a return on equity of 2.73%.

Insider Transactions at Barratt Redrow

In related news, insider Nigel Webb purchased 15,000 shares of the company's stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of GBX 329 per share, for a total transaction of £49,350. Also, insider Katie Bickerstaffe purchased 5,789 shares of Barratt Redrow stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of GBX 323 per share, with a total value of £18,698.47. Corporate insiders own 0.30% of the company's stock.

About Barratt Redrow

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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