Crest Nicholson Holdings plc (LON:CRST) experienced a significant decline in its share price, dropping by 15% during mid-day trading on Tuesday. The stock reached a low of GBX 138.90 before closing at the same figure. This marked a notable decrease from its previous closing price of GBX 163.40. Trading activity saw approximately 3,324,498 shares exchanged, reflecting a substantial increase of 136% compared to the average daily volume of 1,409,704 shares.
Analysts have weighed in on Crest Nicholson’s performance, contributing to the ongoing discourse regarding the stock’s viability. In a research report published on Tuesday, Peel Hunt reaffirmed an “add” rating for the shares, setting a target price of GBX 190. Meanwhile, Berenberg Bank reiterated its “hold” rating with a price objective of GBX 195, as noted in a research note dated September 8, 2023. Currently, one analyst has assigned a Buy rating to the stock, while two analysts have given it a Hold rating.
According to data from MarketBeat.com, Crest Nicholson holds a consensus rating of “Hold” along with a consensus target price of GBX 191.67. These insights reflect a cautious but measured outlook on the company’s future performance amid market fluctuations.
Crest Nicholson’s Business Overview
Crest Nicholson operates primarily in the residential construction sector in the United Kingdom. Founded in 1963 and headquartered in Addlestone, United Kingdom, the company focuses on the development and sale of residential properties, including apartments, houses, and commercial real estate.
As the market continues to react to various economic factors, investors may consider these analyst ratings and target prices when evaluating their positions in Crest Nicholson. The company’s performance will remain under scrutiny as it adapts to the changing landscape of the housing market.
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