Bellway (LON:BWY) Share Price Passes Above 200-Day Moving Average – Here’s Why

Bellway p.l.c. (LON:BWY)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,586.74 and traded as high as GBX 2,808. Bellway shares last traded at GBX 2,779.37, with a volume of 778,717 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Bellway in a research note on Friday, October 17th. Citigroup increased their target price on shares of Bellway from GBX 3,000 to GBX 3,090 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada lifted their target price on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a report on Wednesday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 3,489 price target on shares of Bellway in a research report on Wednesday, October 22nd. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 2,900 target price on shares of Bellway in a report on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,194.75.

Bellway Trading Down 0.9%

The firm has a market cap of £3.28 billion, a P/E ratio of 21.02, a PEG ratio of 3.40 and a beta of 1.46. The company’s 50 day moving average is GBX 2,495.63 and its two-hundred day moving average is GBX 2,586.74. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50.

Bellway (LON:BWY) last issued its quarterly earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share (EPS) for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. On average, sell-side analysts predict that Bellway p.l.c. will post 159.0741715 earnings per share for the current year.

Bellway announced that its board has initiated a share repurchase plan on Tuesday, October 14th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Bellway

In related news, insider Jason Honeyman bought 5,839 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of GBX 2,636 per share, with a total value of £153,916.04. Also, insider Shane Doherty bought 2,021 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of GBX 636 per share, with a total value of £12,853.56. Insiders own 0.84% 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.