Bellway (LON:BWY) Price Target Cut to GBX 3,461 by Analysts at Jefferies Financial Group

Bellway (LON:BWY) had its target price dropped by equities research analysts at Jefferies Financial Group from GBX 3,476 to GBX 3,461 in a research note issued on Monday,Digital Look reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 26.78% from the stock’s current price.

Several other equities research analysts have also issued reports on BWY. Royal Bank Of Canada lifted their price target on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group started coverage on Bellway in a report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price objective for the company. JPMorgan Chase & Co. lifted their target price on Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Citigroup increased their price target on Bellway from GBX 3,090 to GBX 3,100 and gave the company a “buy” rating in a research report on Monday, December 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 3,237.50.

Bellway Stock Performance

Shares of BWY stock remained flat at GBX 2,730 on Monday. The stock had a trading volume of 297,263 shares, compared to its average volume of 1,193,202. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50. The stock has a market cap of £3.20 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 3.40 and a beta of 1.46. Bellway has a 52 week low of GBX 2,134 and a 52 week high of GBX 2,998. The business has a fifty day moving average of GBX 2,715.91 and a 200-day moving average of GBX 2,571.42.

Bellway announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 14th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Simon Scougall sold 4,633 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £128,195.11. Also, insider Jason Honeyman sold 19,752 shares of Bellway stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £546,537.84. 0.87% of the stock is currently owned by corporate insiders.

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.