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

Bellway (LON:BWY)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 2,380 price target on the stock. Jefferies Financial Group’s price objective points to a potential upside of 12.37% from the company’s current price.

Several other research analysts also recently commented on the company. Berenberg Bank cut their target price on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. JPMorgan Chase & Co. downgraded shares of Bellway to an “overweight” rating and lowered their target price for the company from GBX 3,480 to GBX 2,410 in a research note 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 report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 2,527.89.

Bellway Stock Performance

Shares of Bellway stock traded up GBX 2 during mid-day trading on Wednesday, hitting GBX 2,118. 812,794 shares of the stock were exchanged, compared to its average volume of 3,883,246. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The company has a 50-day simple moving average of GBX 2,093.63 and a 200 day simple moving average of GBX 1,983.52. The company has a market capitalization of £2.36 billion, a P/E ratio of 16.09, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway (LON:BWY) last announced its quarterly earnings data on Tuesday, October 13th. The company reported GBX 187.80 EPS for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. Analysts predict that Bellway will post 159.07 EPS for the current year.

Bellway declared that its board has approved a share buyback plan on Tuesday, September 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.