Bellway (LON:BWY) Given New GBX 3,820 Price Target at JPMorgan Chase & Co.

Bellway (LON:BWY) had its price objective hoisted by JPMorgan Chase & Co. from GBX 3,280 to GBX 3,820 in a report released on Thursday morning, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Berenberg Bank restated a “hold” rating and set a GBX 2,900 target price on shares of Bellway in a research report on Monday, September 8th. Royal Bank Of Canada boosted their price objective on Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group started coverage on Bellway in a research note on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 target price for the company. Citigroup lifted their target price on Bellway from GBX 3,000 to GBX 3,090 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,489 price target on shares of Bellway in a report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 3,240.50.

Bellway Price Performance

BWY opened at GBX 2,708 on Thursday. The firm has a 50-day moving average price of GBX 2,637.14 and a 200-day moving average price of GBX 2,591.67. Bellway has a twelve month low of GBX 2,134 and a twelve month high of GBX 2,998. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. The company has a market capitalization of £3.20 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.40 and a beta of 1.46.

Bellway (LON:BWY) last announced its quarterly earnings results on Tuesday, October 14th. The company reported GBX 176.70 EPS for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. Equities analysts expect that Bellway will post 159.0741715 EPS for the current year.

Bellway declared that its board has approved a stock buyback program on Tuesday, October 14th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Bellway news, insider Simon Scougall sold 4,633 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £128,195.11. Also, insider Shane Doherty purchased 2,021 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of GBX 636 per share, with a total value of £12,853.56. Corporate insiders own 0.84% of the company’s stock.

About Bellway

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.