Bellway (LON:BWY) Stock Passes Above 200-Day Moving Average – Here’s Why

Bellway p.l.c. (LON:BWY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,586.74 and traded as high as GBX 2,808. Bellway shares last traded at GBX 2,779.37, with a volume of 778,717 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Bellway in a research note on Friday, October 17th. Royal Bank Of Canada upped their price objective on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a report on Wednesday, October 15th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,489 target price on shares of Bellway in a report on Wednesday, October 22nd. Berenberg Bank reissued a “hold” rating and issued a GBX 2,900 target price on shares of Bellway in a research report on Monday, September 8th. Finally, Citigroup raised their price target on Bellway from GBX 3,000 to GBX 3,090 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Bellway presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,194.75.

Bellway Price Performance

The company’s 50-day moving average price is GBX 2,495.63 and its 200-day moving average price is GBX 2,586.74. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. The firm has a market cap of £3.28 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.40 and a beta of 1.46.

Bellway (LON:BWY) last announced its quarterly earnings data on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. On average, equities research analysts forecast that Bellway p.l.c. will post 159.0741715 EPS for the current year.

Bellway declared that its board has approved a stock buyback program on Tuesday, October 14th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Jason Honeyman acquired 5,839 shares of Bellway stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of GBX 2,636 per share, for a total transaction of £153,916.04. Also, insider Shane Doherty bought 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average price of GBX 636 per share, with a total value of £12,853.56. 0.84% 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.