Bellway p.l.c. (LON:BWY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bellway p.l.c. (LON:BWY) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 2,522.33.

Several research analysts have recently weighed in on BWY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price target on shares of Bellway in a report on Wednesday, August 12th. Berenberg Bank restated a “buy” rating and set a GBX 2,400 price objective on shares of Bellway in a report on Friday, June 26th. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and cut their price objective for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Jefferies Financial Group reduced their target price on shares of Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Citigroup upped their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th.

Bellway Price Performance

LON BWY opened at GBX 2,068 on Friday. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26. The stock has a market cap of £2.32 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.40 and a beta of 1.37. The business has a 50 day simple moving average of GBX 2,071.92 and a 200 day simple moving average of GBX 1,988.29. Bellway has a 52-week low of GBX 1,715 and a 52-week high of GBX 2,890.

Bellway announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is 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.