Bellway (LON:BWY) Insider Sells £136,584.44 in Stock

Bellway p.l.c. (LON:BWY) insider Jason Honeyman sold 6,158 shares of Bellway stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of GBX 2,218, for a total value of £136,584.44.

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

• On Friday, October 23rd, Jason Honeyman bought 5,658 shares of Bellway stock. The shares were acquired at an average price of GBX 2,164 per share, for a total transaction of £122,439.12.

Bellway Stock Performance

Shares of LON:BWY traded up GBX 12 on Monday, hitting GBX 2,200. 3,161,371 shares of the company’s stock were exchanged, compared to its average volume of 3,926,299. The firm’s 50-day moving average is GBX 2,092.51 and its 200 day moving average is GBX 1,992.07. The company has a market capitalization of £2.45 billion, a PE ratio of 16.72, a P/E/G ratio of 3.40 and a beta of 1.37. 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 announced its earnings results on Tuesday, October 13th. The company reported GBX 187.80 EPS for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. On average, analysts anticipate that Bellway p.l.c. will post 159.07 EPS for the current fiscal year.

Bellway declared that its board has authorized a share buyback program on Tuesday, September 1st that authorizes the company to buy back 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Share buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.