Bellway (LON:BWY) Stock Rating Reaffirmed as Buy by Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Financial Group in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s target price points to a potential upside of 7.59% from the stock’s current price.

A number of other analysts have also recently commented on the company. Citigroup boosted their price target on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. downgraded Bellway to an “overweight” rating and reduced their price target for the company from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price target on shares of Bellway in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price target on shares of Bellway in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,522.33.

Bellway Stock Down 1.3%

Bellway stock traded down GBX 30 on Monday, hitting GBX 2,212. 33,848,242 shares of the stock traded hands, compared to its average volume of 4,262,679. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890. The firm has a market cap of £2.48 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37. 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 fifty day simple moving average is GBX 2,086.30 and its 200 day simple moving average is GBX 1,984.59.

Bellway declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 1st that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically 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.