Bellway p.l.c. (LON:BWY) Given Consensus Rating of “Moderate Buy” by Brokerages

Bellway p.l.c. (LON:BWY) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is GBX 3,237.50.

A number of equities analysts have commented on the stock. Jefferies Financial Group reduced their price objective on shares of Bellway from GBX 3,476 to GBX 3,461 and set a “buy” rating for the company in a research report on Monday, January 19th. Royal Bank Of Canada lifted 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 research report on Wednesday, October 15th. The Goldman Sachs Group assumed coverage on Bellway in a research report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Citigroup lifted their target price on Bellway from GBX 3,090 to GBX 3,100 and gave the company a “buy” rating in a research report on Monday, December 8th.

Insider Buying and Selling at Bellway

In related news, insider Simon Scougall sold 4,633 shares of Bellway stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £128,195.11. Also, insider Jason Honeyman sold 19,752 shares of Bellway stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total transaction of £546,537.84. Company insiders own 0.88% of the company’s stock.

Bellway Price Performance

Shares of LON BWY opened at GBX 2,588 on Friday. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. The company has a market cap of £3.03 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. Bellway has a twelve month low of GBX 2,134 and a twelve month high of GBX 2,998. The business’s 50 day moving average price is GBX 2,708.44 and its two-hundred day moving average price is GBX 2,584.31.

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

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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.