Bellway (LON:BWY) Insider Acquires £122,439.12 in Stock

Bellway p.l.c. (LON:BWY) insider Jason Honeyman purchased 5,658 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of GBX 2,164 per share, for a total transaction of £122,439.12.

Jason Honeyman also recently made the following trade(s):

• On Monday, October 26th, Jason Honeyman sold 6,158 shares of Bellway stock. The stock was sold at an average price of GBX 2,218, for a total transaction of £136,584.44.

Bellway Price Performance

BWY stock opened at GBX 2,134 on Thursday. The stock has a market cap of £2.38 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 3.40 and a beta of 1.37. The company has a 50 day simple moving average of GBX 2,098.19 and a 200 day simple moving average of GBX 2,146.60. Bellway p.l.c. has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890.

Bellway (LON:BWY) last issued its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. On average, equities research analysts anticipate that Bellway p.l.c. will post 159.07 EPS for the current fiscal year.

Bellway announced that its board has approved a share repurchase plan on Tuesday, September 1st that authorizes the company to buy back outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BWY. Citigroup raised their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,380 target price on shares of Bellway in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a research report on Wednesday, August 12th. Finally, Berenberg Bank lowered their price target on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a report on Wednesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Bellway has a consensus rating of “Moderate Buy” and an average target price of GBX 2,527.89.

Bellway Company Profile

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.