Jefferies Financial Group Lowers Bellway (LON:BWY) Price Target to GBX 3,461

Bellway (LON:BWY) had its target price decreased by equities research analysts at Jefferies Financial Group from GBX 3,476 to GBX 3,461 in a research report issued on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 27.81% from the company’s previous close.

BWY has been the subject of several other reports. The Goldman Sachs Group started coverage on Bellway in a research note on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 target price for the company. JPMorgan Chase & Co. increased their price target on Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada raised their price objective on Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday, October 15th. Finally, Citigroup lifted their price objective on Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a report on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 3,237.50.

Bellway Price Performance

BWY opened at GBX 2,708 on Monday. Bellway has a twelve month low of GBX 2,134 and a twelve month high of GBX 2,998. The firm has a market cap of £3.18 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.40 and a beta of 1.46. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75. The company has a fifty day simple moving average of GBX 2,714.68 and a 200 day simple moving average of GBX 2,571.94.

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

Insiders Place Their Bets

In related news, insider Shane Doherty purchased 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of GBX 636 per share, with a total value of £12,853.56. Also, insider Simon Scougall sold 4,633 shares of the firm’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 £128,195.11. 0.87% 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.