Bellway (LON:BWY) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Bellway p.l.c. (LON:BWY) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,042.83 and traded as high as GBX 2,132. Bellway shares last traded at GBX 2,058, with a volume of 7,270,038 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on BWY. JPMorgan Chase & Co. downgraded shares of Bellway to an “overweight” rating and decreased their price objective for the stock from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. Citigroup boosted 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. Jefferies Financial Group lowered their price target on Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price objective on shares of Bellway in a research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 2,522.33.

Bellway Trading Down 2.5%

The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50. The company has a market cap of £2.22 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 3.40 and a beta of 1.37. The business’s 50-day simple moving average is GBX 2,043.34 and its 200-day simple moving average is GBX 2,031.26.

Bellway declared that its Board of Directors has authorized a share buyback program on Tuesday, September 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is 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.