JPMorgan Chase & Co. Has Lowered Expectations for Barratt Redrow (LON:BTRW) Stock Price

Barratt Redrow (LON:BTRW) had its price objective dropped by research analysts at JPMorgan Chase & Co. from GBX 520 to GBX 350 in a research note issued to investors on Tuesday,Digital Look reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 36.32% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Citigroup dropped their target price on shares of Barratt Redrow from GBX 490 to GBX 450 and set a “buy” rating for the company in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft lowered shares of Barratt Redrow to a “buy” rating and dropped their target price for the company from GBX 454 to GBX 366 in a research report on Monday, April 20th. Bank of America lowered their price objective on shares of Barratt Redrow from GBX 400 to GBX 280 and set a “neutral” rating for the company in a report on Friday, March 27th. Jefferies Financial Group restated a “hold” rating and issued a GBX 289 price objective on shares of Barratt Redrow in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada upgraded shares of Barratt Redrow to an “outperform” rating and lowered their price objective for the stock from GBX 425 to GBX 350 in a report on Wednesday, April 1st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 397.64.

Barratt Redrow Stock Performance

Barratt Redrow stock traded up GBX 6.15 during mid-day trading on Tuesday, hitting GBX 256.75. 24,092,352 shares of the company traded hands, compared to its average volume of 37,359,699. Barratt Redrow has a one year low of GBX 235.40 and a one year high of GBX 475.30. The stock has a market cap of £3.60 billion, a price-to-earnings ratio of 17.23 and a beta of 1.37. The stock has a fifty day moving average price of GBX 256.98 and a 200-day moving average price of GBX 320.76.

Insiders Place Their Bets

In other news, insider Katie Bickerstaffe purchased 5,687 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was acquired at an average price of GBX 262 per share, with a total value of £14,899.94. 0.30% of the stock is owned by insiders.

Barratt Redrow Company Profile

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.