Bellway (LON:BWY) Lowered to “Overweight” Rating by JPMorgan Chase & Co.

Bellway (LON:BWY) was downgraded by analysts at JPMorgan Chase & Co. to an “overweight” rating in a report released on Tuesday,Digital Look reports. They currently have a GBX 2,410 target price on the stock, down from their prior target price of GBX 3,480. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 32.05% from the company’s previous close.

Several other equities analysts have also recently commented on BWY. Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 3,150 target price on shares of Bellway in a research report on Wednesday, March 25th. Berenberg Bank dropped their target price on shares of Bellway from GBX 2,800 to GBX 2,100 and set a “hold” rating for the company in a research report on Thursday, June 11th. Jefferies Financial Group restated a “buy” rating and issued a GBX 2,394 target price on shares of Bellway in a research report on Wednesday, June 10th. Stifel Nicolaus dropped their target price on shares of Bellway from GBX 2,280 to GBX 1,900 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Citigroup decreased their price target on shares of Bellway from GBX 2,800 to GBX 2,300 and set a “buy” rating on the stock in a report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,412.25.

Bellway Price Performance

Shares of LON:BWY traded up GBX 41 during midday trading on Tuesday, hitting GBX 1,825. The stock had a trading volume of 446,445 shares, compared to its average volume of 5,080,697. The company’s 50-day moving average price is GBX 1,902.92 and its 200-day moving average price is GBX 2,345.65. The company has a market capitalization of £2.08 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 3.40 and a beta of 1.38. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 5.39. Bellway has a fifty-two week low of GBX 1,715 and a fifty-two week high of GBX 2,998.

Bellway (LON:BWY) last issued its earnings results on Tuesday, March 24th. The company reported GBX 91.20 EPS for the quarter. Bellway had a net margin of 5.46% and a return on equity of 4.43%. As a group, equities research analysts predict that Bellway will post 159.0741715 EPS for the current fiscal year.

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.