Citigroup Forecasts Strong Price Appreciation for Bellway (LON:BWY) Stock

Bellway (LON:BWY) had its price target lifted by equities research analysts at Citigroup from GBX 3,090 to GBX 3,100 in a note issued to investors on Monday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 17.60% from the company’s current price.

BWY has been the topic of several other reports. Berenberg Bank reissued a “hold” rating and issued a GBX 2,900 price objective on shares of Bellway in a research report on Monday, September 8th. The Goldman Sachs Group started coverage on shares of Bellway in a research note on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target on the stock. Royal Bank Of Canada increased their price target on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a report on Wednesday, October 15th. Jefferies Financial Group restated a “buy” rating and set a GBX 3,489 price objective on shares of Bellway in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bellway has an average rating of “Moderate Buy” and a consensus price target of GBX 3,242.17.

Bellway Stock Performance

BWY opened at GBX 2,636 on Monday. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. Bellway has a 12-month low of GBX 2,134 and a 12-month high of GBX 2,998. The business has a 50 day moving average of GBX 2,651.58 and a 200-day moving average of GBX 2,589.58. The stock has a market cap of £3.11 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 3.40 and a beta of 1.46.

Bellway (LON:BWY) last posted its quarterly 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%. On average, equities research analysts expect that Bellway will post 159.0741715 earnings per share for the current year.

Bellway declared that its Board of Directors has approved a share buyback program on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Bellway

In other Bellway news, insider Shane Doherty bought 2,021 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of GBX 636 per share, for a total transaction of £12,853.56. Also, insider Jason Honeyman sold 19,752 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £546,537.84. 0.87% of the stock is owned by insiders.

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.