Bellway (LON:BWY) Stock Keeps Buy Rating at Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Financial Group in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s price objective points to a potential upside of 13.12% from the company’s current price.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. JPMorgan Chase & Co. downgraded shares of Bellway to an “overweight” rating and cut their price objective for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Berenberg Bank restated a “buy” rating and set a GBX 2,400 price objective on shares of Bellway in a research note on Friday, June 26th. Finally, Citigroup lifted their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a report 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 2,522.33.

Bellway Stock Up 0.5%

LON:BWY traded up GBX 10 during trading hours on Monday, reaching GBX 2,104. 431,749 shares of the company traded hands, compared to its average volume of 4,051,327. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39. The business’s 50-day moving average price is GBX 2,096.42 and its two-hundred day moving average price is GBX 1,983.67. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890. The stock has a market capitalization of £2.36 billion, a P/E ratio of 15.99, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway declared that its board has authorized a stock buyback program on Tuesday, September 1st that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are 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.