Analysts Set Bellway p.l.c. (LON:BWY) PT at GBX 3,242.17

Shares of Bellway p.l.c. (LON:BWY) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is GBX 3,242.17.

BWY has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a research note on Monday, December 8th. Royal Bank Of Canada upped 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 research note on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research note on Thursday, December 4th. The Goldman Sachs Group started coverage on Bellway in a report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,489 price objective on shares of Bellway in a research note on Wednesday, October 22nd.

Bellway Stock Performance

BWY stock opened at GBX 2,740 on Tuesday. Bellway has a twelve month low of GBX 2,134 and a twelve month high of GBX 2,998. The firm has a market cap 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 business’s fifty day simple moving average is GBX 2,715.91 and its two-hundred day simple moving average is GBX 2,571.68. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75.

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

Insider Activity

In other Bellway news, insider Jason Honeyman sold 19,752 shares of the stock in a transaction dated Tuesday, November 11th. The shares were 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 the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £128,195.11. 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.