Jefferies Financial Group Cuts Bellway (LON:BWY) Price Target to GBX 3,461

Bellway (LON:BWY) had its price objective reduced by Jefferies Financial Group from GBX 3,476 to GBX 3,461 in a report issued on Monday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on BWY. Royal Bank Of Canada upped their price objective on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a report on Wednesday, October 15th. Citigroup boosted their target price on shares of Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. upped their price target on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Bellway in a report on Monday, November 24th. They issued a “neutral” rating and a GBX 2,844 price target for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Bellway has an average rating of “Moderate Buy” and a consensus price target of GBX 3,237.50.

Bellway Stock Performance

Shares of BWY opened at GBX 2,704 on Monday. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75. The firm has a market cap of £3.17 billion, a PE ratio of 20.52, a P/E/G ratio of 3.40 and a beta of 1.46. Bellway has a 12 month low of GBX 2,134 and a 12 month high of GBX 2,998. The stock has a fifty day moving average price of GBX 2,713.32 and a 200-day moving average price of GBX 2,572.86.

Bellway declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 14th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Bellway

In other Bellway news, insider Jason Honeyman sold 19,752 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £546,537.84. Also, insider Simon Scougall sold 4,633 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of GBX 2,767, for a total value of £128,195.11. Company insiders own 0.87% of the company’s stock.

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.