Barratt Redrow Advances Share Buyback Program

Barratt Developments ( (GB:BTRW) ) just unveiled an announcement.

Barratt Redrow plc, a company involved in the real estate sector, announced the purchase and cancellation of 125,000 ordinary shares as part of its £50 million share repurchase program. This transaction, conducted with UBS AG London Branch, is part of a broader initiative to reduce the number of shares in circulation, potentially increasing the value of remaining shares and demonstrating the company’s confidence in its financial health. Following this purchase, the company has no ordinary shares in treasury and a total of 1,441,414,051 ordinary 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.

The overall stock score of 58 is primarily influenced by the company’s robust balance sheet and positive corporate events, such as the share buyback program. However, the score is moderated by technical analysis indicating bearish momentum and high valuation metrics. The absence of recent earnings call data limits further insights.

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

More about Barratt Developments

Average Trading Volume: 4,994,897

Technical Sentiment Signal: Buy

Current Market Cap: £6.37B

Learn more about BTRW stock on TipRanks’ Stock Analysis page.