Balfour Beatty (LON:BBY) Stock Passes Above 200 Day Moving Average – Here’s Why

Balfour Beatty plc (LON:BBY)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 762.40 and traded as high as GBX 859. Balfour Beatty shares last traded at GBX 847.50, with a volume of 113,054,594 shares changing hands.

Wall Street Analyst Weigh In

BBY has been the topic of several research analyst reports. Berenberg Bank boosted their price objective on Balfour Beatty from GBX 800 to GBX 870 and gave the company a “buy” rating in a research report on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 985 price objective on shares of Balfour Beatty in a research report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 856.67.

Balfour Beatty Stock Performance

The company has a debt-to-equity ratio of 89.50, a current ratio of 1.02 and a quick ratio of 0.84. The firm has a fifty day moving average price of GBX 815.67 and a two-hundred day moving average price of GBX 762.40. The stock has a market capitalization of £4.04 billion, a PE ratio of 16.30, a P/E/G ratio of 3.75 and a beta of 0.60.

Balfour Beatty announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Philip Harrison sold 109,744 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total value of £876,854.56. Also, insider Philip Hoare sold 121,214 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total value of £968,499.86. 1.22% of the stock is owned by company insiders.

Balfour Beatty Company Profile

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.