Bellway p.l.c. (LON:BWY) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Bellway p.l.c. (LON:BWY – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is GBX 2,522.33.

A number of equities research analysts have recently issued reports on BWY shares. JPMorgan Chase & Co. downgraded shares of Bellway to an “overweight” rating and reduced their price target for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Citigroup upped their price target on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group dropped their price objective on Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,917 price objective on shares of Bellway in a report on Wednesday, August 12th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 2,400 target price on shares of Bellway in a research report on Friday, June 26th.

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Bellway Stock Up 0.9%

BWY stock opened at GBX 2,060 on Friday. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39. The company’s 50-day moving average price is GBX 2,069.90 and its 200 day moving average price is GBX 1,987.73. Bellway has a 52 week low of GBX 1,715 and a 52 week high of GBX 2,890. The company has a market cap of £2.31 billion, a P/E ratio of 15.65, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway declared that its board has initiated a stock repurchase program on Tuesday, September 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About Bellway

(Get Free Report)

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.

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