Taylor Wimpey (LON:TW) Price Target Lowered to GBX 70 at JPMorgan Chase & Co.

Taylor Wimpey (LON:TW) had its target price dropped by analysts at JPMorgan Chase & Co. from GBX 100 to GBX 70 in a report issued on Tuesday,Digital Look reports. The brokerage currently has an “underweight” rating on the homebuilder’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 8.71% from the stock’s previous close.

A number of other research analysts also recently commented on TW. Bank of America lowered their price objective on shares of Taylor Wimpey from GBX 110 to GBX 90 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 120 price objective on shares of Taylor Wimpey in a research report on Thursday, March 5th. Berenberg Bank lowered their price objective on shares of Taylor Wimpey from GBX 120 to GBX 105 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Taylor Wimpey from GBX 122 to GBX 96 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, Jefferies Financial Group reduced their target price on shares of Taylor Wimpey from GBX 105 to GBX 103 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 109.

Taylor Wimpey Price Performance

TW traded up GBX 1.88 on Tuesday, reaching GBX 76.68. 22,218,686 shares of the company traded hands, compared to its average volume of 2,409,451. The business has a 50-day moving average price of GBX 80.90 and a 200 day moving average price of GBX 95.76. The stock has a market cap of £2.76 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 2.04 and a beta of 1.31. The company has a current ratio of 4.96, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96.

Taylor Wimpey announced that its board has initiated a share buyback plan on Thursday, March 5th that allows the company to repurchase 0 shares. This repurchase authorization allows the homebuilder to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Taylor Wimpey

In other Taylor Wimpey news, insider Jennie Daly bought 139,270 shares of Taylor Wimpey stock in a transaction on Wednesday, March 25th. The stock was purchased at an average cost of GBX 86 per share, for a total transaction of £119,772.20. Also, insider Chris Carney bought 90,361 shares of Taylor Wimpey stock in a transaction on Wednesday, March 25th. The stock was acquired at an average price of GBX 86 per share, with a total value of £77,710.46. Insiders acquired 232,377 shares of company stock worth $19,958,202 over the last ninety days. 0.87% of the stock is currently owned by insiders.

About Taylor Wimpey

Taylor Wimpey plc operates as a homebuilder in the United Kingdom and Spain. It builds and delivers various homes and communities. Taylor Wimpey plc was incorporated in 1935 and is based in High Wycombe, the United Kingdom.