Bellway (BWY) Upgraded to Buy by Numis Securities

Bellway (LON:BWY) was upgraded by investment analysts at Numis Securities to a “buy” rating in a research report issued on Thursday. The firm currently has a GBX 3,980 ($55.80) target price on the stock. Numis Securities’ price objective would indicate a potential upside of 27.56% from the company’s current price.

Several other research analysts have also weighed in on the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 4,168 ($58.44) target price on shares of Bellway in a research report on Thursday, October 26th. Citigroup reissued a “buy” rating on shares of Bellway in a report on Friday, October 13th. JPMorgan Chase & Co. lifted their price target on shares of Bellway from GBX 3,900 ($54.68) to GBX 4,100 ($57.49) and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Barclays lowered shares of Bellway to an “equal weight” rating and lifted their price target for the stock from GBX 3,631 ($50.91) to GBX 3,779 ($52.99) in a research report on Monday, October 30th. Finally, Liberum Capital restated a “buy” rating and issued a GBX 3,336 ($46.78) price target on shares of Bellway in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of GBX 3,686.70 ($51.69).

Shares of Bellway (LON:BWY) traded up GBX 10 ($0.14) on Thursday, hitting GBX 3,120 ($43.75). The company had a trading volume of 1,036,318 shares, compared to its average volume of 371,376. The stock has a market cap of $3,830.00 and a price-to-earnings ratio of 845.53. Bellway has a twelve month low of GBX 2,542 ($35.64) and a twelve month high of GBX 3,805 ($53.35).

In related news, insider Jason Honeyman sold 3,537 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of GBX 3,624 ($50.81), for a total value of £128,180.88 ($179,726.42). Also, insider Edward (Ted) Ayres sold 7,812 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of GBX 3,470 ($48.65), for a total transaction of £271,076.40 ($380,084.69).

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Bellway Company Profile

Bellway p.l.c is a holding company of the Bellway Group of companies. The Company is engaged in the building and selling of homes, ranging from one-bedroom apartments up to five-bedroom family homes, as well as providing social housing-to-housing associations. It focuses on providing traditional family housing outside of London and apartments within the London boroughs, in zone 2 and beyond.

Analyst Recommendations for Bellway (LON:BWY)

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