Barratt Redrow Advances Share Buyback Program

Barratt Developments ( (GB:BTRW) ) has provided an announcement.

Barratt Redrow PLC, a prominent player in the real estate industry, announced the purchase and cancellation of 150,000 ordinary shares as part of its ongoing £50 million share repurchase program. This transaction, conducted through UBS AG London Branch, reflects the company’s strategic move to enhance shareholder value and optimize its capital structure. The buyback, which was executed on the London Stock Exchange, brings the total number of shares repurchased under the program to over 9.3 million, leaving the company with 1,441,789,051 shares in issue.

The most recent analyst rating on (GB:BTRW) stock is a Buy with a £507.00 price target. To see the full list of analyst forecasts on Barratt Developments stock, see the GB:BTRW Stock Forecast page.

Spark’s Take on GB:BTRW Stock

According to Spark, TipRanks’ AI Analyst, GB:BTRW is a Neutral.

Barratt Developments’ overall stock score is primarily influenced by its strong balance sheet and active share repurchase program, which boosts shareholder value. However, declining revenue and profitability, along with a high P/E ratio, pose challenges. Technical indicators suggest mixed momentum, warranting cautious optimism.

To see Spark’s full report on GB:BTRW stock, click here.

More about Barratt Developments

Average Trading Volume: 5,040,340

Technical Sentiment Signal: Buy

Current Market Cap: £6.49B

See more insights into BTRW stock on TipRanks’ Stock Analysis page.