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Barratt Redrow ( (GB:BTRW) ) has provided an update.
Barratt Redrow plc announced the purchase and cancellation of 130,000 ordinary shares as part of its £100 million share repurchase program. This move reduces the total number of shares in issue, potentially increasing shareholder value and reflecting the company’s confidence in its financial health.
The most recent analyst rating on (GB:BTRW) stock is a Buy with a £470.00 price target. To see the full list of analyst forecasts on Barratt Redrow 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 score is moderate due to mixed financial performance and bearish technical indicators. The robust balance sheet and positive corporate events, particularly the share buyback program, provide some support. However, high valuation metrics and weak cash flow conversion remain concerns.
To see Spark’s full report on GB:BTRW stock, click here.
More about Barratt Redrow
Barratt Redrow plc operates in the construction industry, focusing on residential property development. The company is known for building homes and has a significant presence in the UK housing market.
Average Trading Volume: 5,221,597
Technical Sentiment Signal: Sell
Current Market Cap: £5.42B
Learn more about BTRW stock on TipRanks’ Stock Analysis page.