Bellway (LON:BWY) Stock Keeps Buy Rating at Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating restated by analysts at Jefferies Financial Group in a note issued to investors on Monday, September 28th, MarketBeat reports. They currently have a GBX 2,380 target price on the stock. Jefferies Financial Group’s price target suggests a potential upside of 13.33% from the stock’s current price.

Several other research analysts also recently commented on BWY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a report on Wednesday, August 12th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price objective on shares of Bellway in a research note on Friday, June 26th. JPMorgan Chase & Co. cut Bellway to an “overweight” rating and reduced their target price for the company from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Finally, Citigroup raised their price target on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Six 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 stock presently has an average rating of “Moderate Buy” and an average target price of GBX 2,522.33.

Bellway Trading Down 0.2%

LON BWY traded down GBX 4 on Monday, hitting GBX 2,100. The company’s stock had a trading volume of 351,833 shares, compared to its average volume of 4,032,059. The company’s 50-day moving average is GBX 2,096.42 and its 200 day moving average is GBX 1,981.84. The firm has a market cap of £2.35 billion, a PE ratio of 15.96, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a 1-year low of GBX 1,715 and a 1-year high of GBX 2,890. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 5.39.

Bellway announced that its board has authorized a share buyback program on Tuesday, September 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors 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.