Bellway (LON:BWY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bellway (LON:BWY) had its price objective increased by equities researchers at JPMorgan Chase & Co. from GBX 3,280 to GBX 3,820 in a research report issued on Thursday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 41.06% from the company’s current price.

Several other equities research analysts have also weighed in on BWY. Citigroup boosted their target price on Bellway from GBX 3,000 to GBX 3,090 and gave the stock a “buy” rating in a report on Wednesday, October 15th. The Goldman Sachs Group initiated coverage on shares of Bellway in a research report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target on the stock. Berenberg Bank reaffirmed a “hold” rating and set a GBX 2,900 price objective on shares of Bellway in a report on Monday, September 8th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,489 target price on shares of Bellway in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a research report on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,240.50.

Bellway Price Performance

BWY stock opened at GBX 2,708 on Thursday. The firm has a market cap of £3.20 billion, a PE ratio of 20.55, a PEG ratio of 3.40 and a beta of 1.46. Bellway has a 1 year low of GBX 2,134 and a 1 year high of GBX 2,998. The company has a fifty day simple moving average of GBX 2,643.58 and a 200 day simple moving average of GBX 2,591.53. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75.

Bellway (LON:BWY) last posted its earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. Sell-side analysts anticipate that Bellway will post 159.0741715 EPS for the current fiscal year.

Bellway announced that its board has authorized a stock buyback plan on Tuesday, October 14th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Bellway

In other Bellway news, insider Jason Honeyman sold 19,752 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £546,537.84. Also, insider Simon Scougall sold 4,633 shares of Bellway stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £128,195.11. Corporate insiders own 0.84% of the company’s stock.

About Bellway

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.