Bellway (LON:BWY) Given “Buy” Rating at Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Financial Group in a report released on Monday, Marketbeat Ratings reports. They currently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s price target points to a potential upside of 13.66% from the stock’s current price.

Several other brokerages have also weighed in on BWY. Berenberg Bank reiterated a “buy” rating and set a GBX 2,400 price objective on shares of Bellway in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,917 target price on shares of Bellway in a report on Wednesday, August 12th. JPMorgan Chase & Co. lowered shares of Bellway to an “overweight” rating and dropped their price target for the stock from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Finally, Citigroup increased their price target on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,522.33.

Bellway Trading Down 5.3%

LON:BWY traded down GBX 118 during mid-day trading on Monday, reaching GBX 2,094. The company’s stock had a trading volume of 28,327,154 shares, compared to its average volume of 4,216,750. The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50. The stock has a market cap of £2.35 billion, a P/E ratio of 15.91, a P/E/G ratio of 3.40 and a beta of 1.37. The company’s fifty day simple moving average is GBX 2,093.92 and its two-hundred day simple moving average is GBX 1,982.82. Bellway has a twelve month low of GBX 1,715 and a twelve month high of GBX 2,890.

Bellway declared that its board has approved a share repurchase program on Tuesday, September 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is 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.