Vistry Group (LON:VTY) Board of Directors Authorizes Share Repurchase Plan

Key Points

• Vistry Group's Board of Directors has authorized a stock buyback program to reacquire shares, indicating confidence in the company's value.
• Despite the buyback announcement, Vistry's share price is currently down by 1.0%, trading at GBX 630.40.
• Analysts have mixed ratings on Vistry, with most suggesting a neutral or hold position, reflecting cautious sentiment in the market.

Vistry Group (LON:VTY - Get Free Report) declared that its board has approved a stock buyback program on Monday, October 20th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Vistry Group from GBX 602 to GBX 601 and set a "neutral" rating on the stock in a report on Thursday, September 11th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Vistry Group in a report on Thursday, July 17th. Jefferies Financial Group reduced their price target on shares of Vistry Group from GBX 634 to GBX 628 and set a "hold" rating for the company in a research report on Friday, September 12th. Royal Bank Of Canada upped their target price on shares of Vistry Group from GBX 475 to GBX 500 and gave the stock an "underperform" rating in a research report on Wednesday, September 10th. Finally, Berenberg Bank reiterated a "hold" rating and issued a GBX 650 target price on shares of Vistry Group in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Vistry Group currently has an average rating of "Reduce" and an average price target of GBX 600.43.

Vistry Group Trading Down 1.0%

Shares of LON:VTY traded down GBX 6.60 during midday trading on Monday, hitting GBX 630.40. 415,385 shares of the stock traded hands, compared to its average volume of 2,660,369. Vistry Group has a one year low of GBX 486.70 and a one year high of GBX 1,003. The stock has a market capitalization of £2.03 billion, a PE ratio of 56.29, a P/E/G ratio of -0.20 and a beta of 2.14. The business's 50 day moving average is GBX 628.29 and its two-hundred day moving average is GBX 617.30. The company has a quick ratio of 0.56, a current ratio of 2.64 and a debt-to-equity ratio of 22.15.

Vistry Group (LON:VTY - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The company reported GBX 17.60 earnings per share (EPS) for the quarter. Vistry Group had a net margin of 6.90% and a return on equity of 7.69%. As a group, research analysts forecast that Vistry Group will post 108.4606345 earnings per share for the current year.

Insiders Place Their Bets

In other Vistry Group news, insider Greg Fitzgerald acquired 84,068 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were acquired at an average price of GBX 590 per share, for a total transaction of £496,001.20. Insiders have bought a total of 84,139 shares of company stock valued at $49,644,909 in the last 90 days. 10.64% of the stock is currently owned by corporate insiders.

About Vistry Group

Vistry Group is one of the UK's leading homebuilders with a top tier housebuilder and leading Partnerships business. Our purpose is to develop sustainable new homes and communities across all sectors of the housing market through our leading brands, Bovis Homes, Linden Homes, Vistry Partnerships and Drew Smith. Our housebuilding division operates across 13 business units, each with a regional office, which are developing hundreds of sites across England.

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