Bellway p.l.c. (LON:BWY) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Bellway p.l.c. (LON:BWY) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is GBX 2,527.89.

BWY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a report on Wednesday, August 12th. Berenberg Bank decreased their target price on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a report on Wednesday, October 14th. Citigroup raised their price target on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,380 price target on shares of Bellway in a report on Wednesday, October 14th.

Insider Transactions at Bellway

In related news, insider Shane Doherty bought 2,947 shares of the 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 £63,773.08. Also, insider Jason Honeyman sold 6,158 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of GBX 2,218, for a total transaction of £136,584.44. Insiders have acquired 11,746 shares of company stock worth $25,418,344 in the last quarter. Company insiders own 0.94% of the company’s stock.

Bellway Stock Down 0.6%

BWY stock opened at GBX 2,276 on Monday. The stock has a 50-day simple moving average of GBX 2,112.38 and a two-hundred day simple moving average of GBX 2,129.94. Bellway has a twelve month low of GBX 1,715 and a twelve month high of GBX 2,890. The firm has a market capitalization of £2.52 billion, a PE ratio of 13.83, a PEG ratio of 3.40 and a beta of 1.37.

Bellway (LON:BWY) last announced its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share (EPS) 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 will post 159.07 EPS for the current fiscal year.

Bellway announced that its Board of Directors has approved a share repurchase program on Tuesday, September 1st that authorizes the company to buy back shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Share repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

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.