Bellway (LON:BWY) Given 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 research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a GBX 2,380 target price on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 7.59% from the stock’s previous close.

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

Bellway Trading Down 1.3%

Shares of LON BWY traded down GBX 30 during mid-day trading on Monday, hitting GBX 2,212. The stock had a trading volume of 33,848,242 shares, compared to its average volume of 4,262,679. The business has a 50 day moving average price of GBX 2,090.84 and a two-hundred day moving average price of GBX 1,984.11. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26. 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.

Bellway announced that its Board of Directors has approved a share repurchase program on Tuesday, September 1st that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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.