Barratt Redrow (LON:BTRW) Shares Down 2.1% - Here's What Happened

Key Points

• Barratt Redrow shares fell 2.1% to GBX 305.91, with trading volume down 87% from the average daily level.
• Analysts remain broadly positive: nine rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 390.55.
• Insider Geeta Nanda purchased 1,701 shares at GBX 294 each, while the stock trades near its 50-day average and above its 200-day average.

Barratt Redrow plc (LON:BTRW - Get Free Report) shares traded down 2.1% during trading on Wednesday . The stock traded as low as GBX 304.40 and last traded at GBX 305.91. 4,815,110 shares traded hands during trading, a decline of 87% from the average daily volume of 36,479,484 shares. The stock had previously closed at GBX 312.60.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BTRW. Berenberg Bank restated a "buy" rating and set a GBX 348 price target on shares of Barratt Redrow in a report on Thursday, July 16th. Citigroup cut Barratt Redrow to a "buy" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reissued a "hold" rating and set a GBX 303 price objective on shares of Barratt Redrow in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Barratt Redrow from GBX 454 to GBX 366 and set a "buy" rating on the stock in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Barratt Redrow from GBX 520 to GBX 350 and set an "overweight" rating on the stock in a report on Tuesday, June 16th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of GBX 390.55.

Barratt Redrow Stock Down 2.1%

The firm has a fifty day simple moving average of GBX 300.73 and a 200-day simple moving average of GBX 287.09. The company has a market cap of £4.28 billion, a PE ratio of 20.53 and a beta of 1.36.

Insider Activity

In other news, insider Geeta Nanda purchased 1,701 shares of the company's stock in a transaction that occurred on Wednesday, July 22nd. The shares were purchased at an average price of GBX 294 per share, for a total transaction of £5,000.94. 0.30% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.