Redrow (LON:RDW) Stock Price Passes Above 200-Day Moving Average of $646.87

Redrow plc (LON:RDW)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 646.87 ($8.22) and traded as high as GBX 681 ($8.65). Redrow shares last traded at GBX 663.50 ($8.43), with a volume of 361,036 shares changing hands.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research analyst reports. Royal Bank of Canada lowered shares of Redrow to a “sector perform” rating and set a GBX 750 ($9.53) price objective on the stock. in a report on Thursday, March 21st. Berenberg Bank downgraded Redrow to a “hold” rating and lifted their price target for the company from GBX 643 ($8.17) to GBX 688 ($8.74) in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised Redrow to a “neutral” rating and upped their price objective for the stock from GBX 410 ($5.21) to GBX 760 ($9.66) in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 719.40 ($9.14).

Redrow Price Performance

The firm has a market cap of £2.16 billion, a price-to-earnings ratio of 1,036.72, a PEG ratio of -0.81 and a beta of 1.67. The company’s fifty day moving average is GBX 684.93 and its 200 day moving average is GBX 646.87. The company has a quick ratio of 0.36, a current ratio of 4.08 and a debt-to-equity ratio of 0.49.

Redrow Company Profile

Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.