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

Bellway (LON:BWY)‘s stock had its “buy” rating reissued by Jefferies Financial Group in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 2,380 target price 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 have also recently weighed in on BWY. Citigroup lifted their price target on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a research report on Wednesday, August 12th. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and dropped their price objective for the stock from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Finally, Berenberg Bank cut their target price on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a report on Wednesday. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Bellway currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,527.89.

Bellway Stock Up 0.1%

Shares of LON:BWY traded up GBX 2 during trading on Wednesday, hitting GBX 2,118. The stock had a trading volume of 812,794 shares, 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 stock has a market capitalization of £2.36 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37. The stock has a 50-day simple moving average of GBX 2,093.63 and a two-hundred day simple moving average of GBX 1,982.56.

Bellway (LON:BWY) last issued its earnings results on Tuesday, October 13th. The company reported GBX 187.80 EPS for the quarter. Bellway had a return on equity of 5.49% and a net margin of 6.12%. As a group, sell-side analysts forecast that Bellway will post 159.07 earnings per share for the current year.

Bellway announced that its board has initiated a stock repurchase program on Tuesday, September 1st that permits the company to buy back 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Share buyback programs are typically an indication that the company’s management 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.