Bellway (LON:BWY) Earns “Buy” Rating from Jefferies Financial Group

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

A number of other analysts also recently commented on the stock. Citigroup boosted their price objective 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. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and dropped their target price for the company from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Berenberg Bank reduced their price target on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set 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 given a Hold rating to the company. Based on data from MarketBeat.com, Bellway has an average rating of “Moderate Buy” and an average target price of GBX 2,527.89.

Bellway Stock Performance

Bellway stock traded up GBX 2 during midday trading on Wednesday, reaching GBX 2,118. The company’s stock had a trading volume of 812,794 shares, compared to its average volume of 3,883,246. Bellway has a fifty-two week low of GBX 1,715 and a fifty-two week high of GBX 2,890. The stock’s 50 day simple moving average is GBX 2,093.63 and its 200 day simple moving average is GBX 1,982.56. The firm has a market capitalization of £2.36 billion, a PE ratio of 16.09, a P/E/G ratio of 3.40 and a beta of 1.37.

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 net margin of 6.12% and a return on equity of 5.49%. Equities analysts predict that Bellway will post 159.07 earnings per share for the current year.

Bellway declared that its board has initiated a share buyback plan on Tuesday, September 1st that permits the company to buy back 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is 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.