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

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

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Bellway to an “overweight” rating and cut their price target for the stock from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Berenberg Bank reduced their price objective 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. Citigroup raised 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,527.89.

Bellway Stock Up 0.1%

LON:BWY traded up GBX 2 during trading hours on Wednesday, reaching GBX 2,118. 812,794 shares of the company’s stock were exchanged, compared to its average volume of 3,883,246. Bellway has a 1-year low of GBX 1,715 and a 1-year high of GBX 2,890. The firm has a market capitalization of £2.36 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 3.40 and a beta of 1.37. The company has a 50-day moving average of GBX 2,093.63 and a 200 day moving average of GBX 1,982.56.

Bellway (LON:BWY) last posted 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%. Research analysts forecast that Bellway will post 159.07 EPS for the current fiscal year.

Bellway announced that its board has approved a share repurchase plan on Tuesday, September 1st that authorizes the company to buy back 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Share buyback plans are typically a sign that the company’s board 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.