Berenberg Bank Cuts Taylor Wimpey (LON:TW) Price Target to GBX 120

Taylor Wimpey (LON:TW) had its price objective trimmed by Berenberg Bank from GBX 128 to GBX 120 in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the homebuilder’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group started coverage on Taylor Wimpey in a research report on Monday, November 24th. They set a “neutral” rating and a GBX 109 price objective on the stock. Jefferies Financial Group reduced their target price on Taylor Wimpey from GBX 140 to GBX 132 and set a “buy” rating for the company in a research report on Monday, January 19th. Stifel Nicolaus reiterated a “buy” rating and set a GBX 120 price target on shares of Taylor Wimpey in a research note on Thursday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Taylor Wimpey from GBX 140 to GBX 120 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 150 price objective on shares of Taylor Wimpey in a research note on Friday, January 16th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Taylor Wimpey has a consensus rating of “Moderate Buy” and an average price target of GBX 124.44.

Taylor Wimpey Stock Performance

LON TW opened at GBX 97.24 on Tuesday. The company has a market capitalization of £3.50 billion, a PE ratio of 14.19, a PEG ratio of 2.04 and a beta of 1.35. The company has a fifty day moving average of GBX 108.39 and a 200-day moving average of GBX 104.26. 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 (LON:TW) last issued its quarterly earnings results on Thursday, March 5th. The homebuilder reported GBX 8 earnings per share (EPS) for the quarter. Taylor Wimpey had a return on equity of 2.40% and a net margin of 2.61%. Research analysts forecast that Taylor Wimpey will post 9.8339265 earnings per share for the current fiscal year.

Taylor Wimpey declared that its board has approved a stock buyback program on Thursday, March 5th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the homebuilder to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Taylor Wimpey

In other Taylor Wimpey news, insider Jennie Daly sold 490,379 shares of Taylor Wimpey stock in a transaction on Thursday, March 5th. The stock was sold at an average price of GBX 101, for a total transaction of £495,282.79. Also, insider Mark Castle bought 2,267 shares of Taylor Wimpey stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of GBX 102 per share, for a total transaction of £2,312.34. Insiders have purchased a total of 3,137 shares of company stock valued at $321,426 in the last 90 days. 0.87% of the stock is owned by corporate 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.