Bellway’s (BWY) “Buy” Rating Reaffirmed at Jefferies Financial Group

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

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

Bellway Price Performance

LON:BWY opened at GBX 2,242 on Monday. The business’s 50-day moving average is GBX 2,086.30 and its 200 day moving average is GBX 1,984.59. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The company 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. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39.

Bellway announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 1st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management 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.