Bellway p.l.c. (LON:BWY) Given Average Rating of “Moderate Buy” by Brokerages

Bellway p.l.c. (LON:BWY) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is GBX 3,237.50.

BWY has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. increased their target price on Bellway from GBX 3,280 to GBX 3,820 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group dropped their target price on shares of Bellway from GBX 3,476 to GBX 3,461 and set a “buy” rating on the stock in a report on Monday, January 19th. The Goldman Sachs Group started coverage on shares of Bellway in a report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target for the company. Finally, Citigroup increased their price objective on shares of Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a research report on Monday, December 8th.

Insider Activity

In related news, insider Jason Honeyman sold 19,752 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total transaction of £546,537.84. Also, insider Simon Scougall sold 4,633 shares of Bellway 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 value of £128,195.11. Company insiders own 0.88% of the company’s stock.

Bellway Stock Performance

Shares of Bellway stock opened at GBX 2,588 on Friday. The stock’s fifty day simple moving average is GBX 2,708.44 and its 200 day simple moving average is GBX 2,584.31. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75. The company has a market capitalization of £3.03 billion, a PE ratio of 19.64, a PEG ratio of 3.40 and a beta of 1.46. Bellway has a 12 month low of GBX 2,134 and a 12 month high of GBX 2,998.

Bellway declared that its board has initiated a share buyback program on Tuesday, October 14th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.