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

Bellway (LON:BWY)‘s stock had its “buy” rating restated by investment analysts at Jefferies Financial Group in a report issued on Wednesday, October 14th, Digital Look reports. They currently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s price target points to a potential upside of 10.39% from the stock’s previous close.

A number of other equities analysts have also weighed in on BWY. JPMorgan Chase & Co. lowered Bellway to an “overweight” rating and lowered their price objective for the stock from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Citigroup upped their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. Finally, Berenberg Bank reduced their price target on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Bellway currently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,527.89.

Bellway Stock Performance

Shares of BWY traded up GBX 36 during trading hours on Wednesday, hitting GBX 2,156. 525,356 shares of the stock were exchanged, compared to its average volume of 3,832,635. Bellway has a 12-month low of GBX 1,715 and a 12-month high of GBX 2,890. The company has a market cap of £2.40 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37. The stock’s 50-day moving average price is GBX 2,092.75 and its two-hundred day moving average price is GBX 1,986.71.

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%. On average, research analysts expect that Bellway will post 159.07 earnings per share for the current year.

Bellway declared that its board has approved a share repurchase plan on Tuesday, September 1st that allows the company to buy back 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication 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.