Citigroup Forecasts Strong Price Appreciation for Bellway (LON:BWY) Stock

by · The Cerbat Gem

Bellway (LON:BWY – Get Free Report) had its price objective lifted by equities researchers at Citigroup from GBX 3,090 to GBX 3,100 in a research note issued to investors on Monday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 16.02% from the company’s current price.

BWY has been the subject of a number of other research reports. The Goldman Sachs Group assumed coverage on Bellway in a report on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 target price for the company. Royal Bank Of Canada raised their target price on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday, October 15th. Berenberg Bank restated a “hold” rating and set a GBX 2,900 target price on shares of Bellway in a report on Monday, September 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 3,489 price target on shares of Bellway in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 3,242.17.

Read Our Latest Stock Report on Bellway

Bellway Trading Down 1.3%

Shares of BWY traded down GBX 36 during mid-day trading on Monday, reaching GBX 2,672. The company had a trading volume of 40,875 shares, compared to its average volume of 1,009,035. The stock has a market cap of £3.15 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. The firm has a fifty day simple moving average of GBX 2,643.58 and a 200-day simple moving average of GBX 2,589.59. Bellway has a fifty-two week low of GBX 2,134 and a fifty-two week high of GBX 2,998. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75.

Bellway (LON:BWY – Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The company reported GBX 176.70 EPS for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. On average, sell-side analysts anticipate that Bellway will post 159.0741715 EPS for the current fiscal year.

Bellway declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 14th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Bellway

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

Bellway Company Profile

(Get Free Report)

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.

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