Bellway (LON:BWY) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Bellway p.l.c. (LON:BWY)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,581.42 and traded as high as GBX 2,810. Bellway shares last traded at GBX 2,738, with a volume of 814,647 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada lifted their price target on Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research report on Wednesday, October 15th. Citigroup boosted their price objective on Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a research note on Monday, December 8th. The Goldman Sachs Group started coverage on Bellway in a research note on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 target price for the company. Finally, Jefferies Financial Group lowered their target price on Bellway from GBX 3,476 to GBX 3,461 and set a “buy” rating on the stock in a report on Monday, January 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,237.50.

Bellway Stock Up 0.1%

The stock has a fifty day moving average of GBX 2,715.57 and a 200-day moving average of GBX 2,581.42. The firm has a market capitalization of £3.21 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 3.40 and a beta of 1.46. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75.

Bellway declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 14th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Bellway

In other news, insider Simon Scougall sold 4,633 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £128,195.11. Also, insider Jason Honeyman sold 19,752 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £546,537.84. Company insiders own 0.87% of the company’s stock.

Bellway Company Profile

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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.