Bellway p.l.c. (LON:BWY) Receives GBX 2,522.33 Consensus Price Target from Brokerages

Bellway p.l.c. (LON:BWY) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is GBX 2,522.33.

BWY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Bellway to an “overweight” rating and dropped their price target for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Citigroup boosted their price objective on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a report on Wednesday, August 12th. Jefferies Financial Group cut their target price on shares of Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price target on shares of Bellway in a report on Friday, June 26th.

Bellway Stock Performance

LON BWY opened at GBX 2,120 on Wednesday. The business has a 50 day moving average price of GBX 2,031.34 and a 200 day moving average price of GBX 2,069.63. The company has a market capitalization of £2.39 billion, a P/E ratio of 16.11, a PEG ratio of 3.40 and a beta of 1.36. Bellway has a 1-year low of GBX 1,715 and a 1-year high of GBX 2,890. The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50.

Bellway declared that its Board of Directors has authorized a share buyback program on Tuesday, September 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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