Vistry Group (VTY)

Up
Share Price:
278.00p
Market Cap:
£883.45m
Change Today:
1.40p
Sector:
Household Goods

Berenberg cuts target price on Vistry following AGM update

By Iain Gilbert

Date: Thursday 14 May 2026

LONDON (ShareCast) - (Sharecast News) - Berenberg slashed its target price on house builder Vistry fom 500p to 340p on Thursday following the group's AGM trading update a day earlier.
Despite an "optically attractive valuation", Berenberg said it remains 'neutral' on Vistry. From a trading perspective, it thinks all three of Vistry's core customer groups - social housing providers, private institutional capital and open market customers - remain in "a challenged position for differing reasons".

"With a need to optimise cash generation - given the debt position - the group is adopting a strategy of incentives and discounts to drive sales activity, which may be aiding cash flow but at the cost of margin. It is hard to see any cause for optimism in the near term," said Berenberg.

The German bank also pointed out that in "a somewhat mixed message", Vistry had referred to the "excellent progress" being made by the group to increase open market sales rates, which were up 32% year-to-date, but also noted that this was driven by "increased incentives and discounts", which aides cash flow but negatively impacts margins. Vistry also said transaction activity with its social housing partners had been "relatively subdued" due to ongoing funding issues.

Compared to previous guidance for improved pre-tax profits, Vistry now expects PBT to be around the middle of consensus range, which would imply PBT of roughly £226m, down 16% year-on-year.

"We cut our PBT forecast, which now stands in line with the new company guidance. Vistry also guides for net cash over £100m at year end (although it adds that average net debt in H1 will be higher than last year) as it has launched," added Berenberg.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Vistry Group Market Data

Currency UK Pounds
Price 278.00p
Change Today 1.40p
52 Week High 736.80p
52 Week Low 224.40p
Volume 988,672
Shares Issued 317.79m
Market Cap £883.45m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Price Trend
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Income
Not Available
Growth
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Dividend Yield
Not Available
EPS Growth
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector