Citigroup Issues Positive Forecast for Bellway (LON:BWY) Stock Price

Bellway (LON:BWY) had its target price increased by analysts at Citigroup from GBX 2,300 to GBX 2,500 in a research report issued on Wednesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 15.63% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Bellway to an “overweight” rating and reduced their target price for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price target on shares of Bellway in a research note on Friday, June 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,394 price target on shares of Bellway in a report on Wednesday, June 10th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,474.75.

Bellway Stock Up 1.1%

Shares of LON:BWY opened at GBX 2,162 on Wednesday. The stock’s 50-day moving average is GBX 1,929.26 and its 200 day moving average is GBX 2,128.36. The company has a market cap of £2.43 billion, a PE ratio of 16.43, a P/E/G ratio of 3.40 and a beta of 1.37. The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890.

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.