Balfour Beatty (LON:BBY) Hits New 1-Year High – Here’s What Happened

Balfour Beatty plc (LON:BBY)’s share price hit a new 52-week high on Thursday . The company traded as high as GBX 885.50 and last traded at GBX 885.50, with a volume of 726095 shares changing hands. The stock had previously closed at GBX 874.50.

Analyst Upgrades and Downgrades

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

Balfour Beatty Price Performance

The company’s 50 day simple moving average is GBX 825.92 and its 200-day simple moving average is GBX 771.32. The company has a market capitalization of £4.20 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.75 and a beta of 0.60. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 89.50.

Balfour Beatty (LON:BBY) last issued its earnings results on Thursday, June 18th. The company reported GBX 14.40 EPS for the quarter. The business had revenue of GBX 452.20 billion for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. On average, equities research analysts predict that Balfour Beatty plc will post 43.3100698 earnings per share for the current fiscal year.

Balfour Beatty announced that its board has authorized a share repurchase program on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

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

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.