Bellway (LON:BWY) Stock Rating Reaffirmed as Buy by Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating restated by Jefferies Financial Group in a report released on Monday, MarketBeat Ratings reports. They currently have a GBX 2,380 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 6.16% from the stock’s current price.

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

Bellway Price Performance

BWY stock opened at GBX 2,242 on Monday. Bellway has a 52 week low of GBX 1,715 and a 52 week high of GBX 2,890. The firm has a 50-day simple moving average of GBX 2,086.30 and a 200-day simple moving average of GBX 1,984.59. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 5.39. The stock has a market capitalization of £2.51 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway announced that its Board of Directors has approved a stock buyback program on Tuesday, September 1st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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.