Balfour Beatty (LON:BBY) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Balfour Beatty plc (LON:BBY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 776.18 and traded as high as GBX 877.50. Balfour Beatty shares last traded at GBX 872, with a volume of 1,914,203 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BBY. Berenberg Bank raised their price target on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the stock a “buy” rating in a report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 985 price objective on shares of Balfour Beatty in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 856.67.

Balfour Beatty Trading Up 1.1%

The business has a fifty day moving average price of GBX 829.11 and a two-hundred day moving average price of GBX 776.18. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 89.50. The firm has a market capitalization of £4.16 billion, a PE ratio of 16.77, a PEG ratio of 3.75 and a beta of 0.60.

Balfour Beatty (LON:BBY) last issued its quarterly earnings data on Thursday, June 18th. The company reported GBX 14.40 earnings per share (EPS) for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. The firm had revenue of GBX 452.20 billion for the quarter. Analysts expect that Balfour Beatty plc will post 43.3100698 EPS for the current fiscal year.

Balfour Beatty announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Philip Hoare sold 121,214 shares of the business’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. Also, insider Philip Harrison sold 109,744 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total transaction of £876,854.56. 1.22% of the stock is currently owned by insiders.

About Balfour Beatty

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.