Jefferies Financial Group Reaffirms Buy Rating for Bellway (LON:BWY)

Bellway (LON:BWY)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Financial Group in a research note issued to investors on Monday, Marketbeat reports. They currently have a GBX 2,380 price target on the stock. Jefferies Financial Group’s target price indicates a potential upside of 5.31% from the stock’s current price.

BWY has been the topic of a number of other research reports. Berenberg Bank restated a “buy” rating and issued a GBX 2,400 target price on shares of Bellway in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,917 price target on shares of Bellway in a research note on Wednesday, August 12th. JPMorgan Chase & Co. downgraded Bellway to an “overweight” rating and cut their target price for the stock from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Finally, Citigroup boosted their price target 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. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 2,522.33.

Bellway Stock Up 0.8%

Shares of LON:BWY opened at GBX 2,260 on Monday. 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 cap of £2.53 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 3.40 and a beta of 1.37. 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.

Bellway declared that its Board of Directors has approved a share buyback program on Tuesday, September 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase 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.