Vistry Group (LON:VTY) Trading 13.6% Higher - Here's What Happened

Key Points

• Shares jumped 13.6% intraday to GBX 372.80 (from GBX 328.20) on Wednesday, with ~17.19 million shares traded—about 6% above average volume.
• Analysts show mixed sentiment: Vistry has a consensus "Hold" rating with an average price target of GBX 556.60, coming from three Buys, five Holds and two Sells amid several recent target cuts and adjustments.
• Company fundamentals and actions: Vistry has a market cap of £1.17bn and a PE of 8.76, is trading well below its 50- and 200-day moving averages, and the board has authorized a share buyback while insiders both sold (34,642 shares) and bought (6,000 shares) stock recently.

Vistry Group PLC (LON:VTY - Get Free Report) shares were up 13.6% during mid-day trading on Wednesday . The company traded as high as GBX 378.20 and last traded at GBX 372.80. Approximately 17,189,061 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 16,268,880 shares. The stock had previously closed at GBX 328.20.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VTY shares. Stifel Nicolaus upgraded Vistry Group to a "buy" rating and reduced their target price for the company from GBX 670 to GBX 610 in a report on Thursday, March 5th. Jefferies Financial Group increased their target price on Vistry Group from GBX 608 to GBX 659 and gave the company a "hold" rating in a report on Monday, January 19th. Bank of America reduced their target price on Vistry Group from GBX 490 to GBX 350 and set an "underperform" rating for the company in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft lowered Vistry Group to a "hold" rating and reduced their target price for the company from GBX 803 to GBX 600 in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on Vistry Group from GBX 640 to GBX 530 and set a "neutral" rating for the company in a report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Vistry Group has a consensus rating of "Hold" and an average price target of GBX 556.60.

Vistry Group Price Performance

The stock has a fifty day moving average price of GBX 535.37 and a 200-day moving average price of GBX 604.33. The company has a market cap of £1.17 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of -0.20 and a beta of 1.97. The company has a debt-to-equity ratio of 17.93, a current ratio of 2.52 and a quick ratio of 0.56.

Vistry Group (LON:VTY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported GBX 59.30 earnings per share for the quarter. Vistry Group had a net margin of 3.82% and a return on equity of 4.20%. On average, equities analysts expect that Vistry Group PLC will post 108.4606345 earnings per share for the current year.

Vistry Group declared that its board has authorized a share buyback program on Monday, February 2nd that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at Vistry Group

In other news, insider Greg Fitzgerald sold 34,642 shares of the company's stock in a transaction on Friday, March 20th. The shares were sold at an average price of GBX 357, for a total value of £123,671.94. Also, insider Paul Whetsell purchased 6,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of GBX 474 per share, for a total transaction of £28,440. Over the last ninety days, insiders have purchased 6,082 shares of company stock valued at $2,889,121. 9.99% of the stock is owned by insiders.

About Vistry Group

Vistry Group is a leading homebuilder developing in partnership to deliver sustainable homes, communities, and social value, leaving a lasting legacy of places where people love to live. Operating across 25 regions, we build homes for those who need them right across the UK. Our partners include Registered Providers, Local Authorities, Homes England and Private Rented Sector providers. Our timber manufacturing capability, Vistry Works, is at the core of our strategy to deliver more quality homes, faster. We sell homes on the open market through three respected brands: Bovis Homes, Linden Homes, and Countryside Homes.

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