Bellway p.l.c. (LON:BWY) Receives GBX 2,522.33 Average Target Price from Brokerages

Bellway p.l.c. (LON:BWY) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is GBX 2,522.33.

A number of research firms have issued reports on BWY. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,917 price target on shares of Bellway in a report on Wednesday, August 12th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,400 price target on shares of Bellway in a research note on Friday, June 26th. JPMorgan Chase & Co. lowered Bellway to an “overweight” rating and cut their price target for the stock from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Jefferies Financial Group reduced their price objective on Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Citigroup increased their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a report on Wednesday, August 12th.

Bellway Stock Up 1.8%

Shares of LON BWY opened at GBX 2,112 on Friday. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39. The company has a market cap of £2.37 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The stock has a 50-day moving average price of GBX 2,065.64 and a two-hundred day moving average price of GBX 1,992.66.

Bellway announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 1st that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs 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.