Bellway (LON:BWY) Stock Crosses Above 200 Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemBellway p.l.c. (LON:BWY – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,588.92 and traded as high as GBX 2,690. Bellway shares last traded at GBX 2,682, with a volume of 193,942 shares changing hands.
Analysts Set New Price Targets
BWY has been the topic of a number of recent research reports. Berenberg Bank reiterated a “hold” rating and set a GBX 2,900 price objective on shares of Bellway in a research note on Monday, September 8th. The Goldman Sachs Group started 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. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,489 price target on shares of Bellway in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Bellway from GBX 3,280 to GBX 3,820 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, Citigroup upped their price objective on Bellway from GBX 3,090 to GBX 3,100 and gave the stock a “buy” rating in a research note on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,242.17.
Check Out Our Latest Report on Bellway
Bellway Stock Up 0.2%
The company’s fifty day simple moving average is GBX 2,689.72 and its 200-day simple moving average is GBX 2,586.86. The firm has a market capitalization of £3.16 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50.
Bellway (LON:BWY – Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. On average, analysts forecast that Bellway p.l.c. will post 159.0741715 EPS for the current year.
Bellway declared that its board has initiated a stock buyback plan on Tuesday, October 14th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, insider Jason Honeyman sold 19,752 shares of Bellway stock in a transaction on Tuesday, November 11th. The shares were 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 on Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £128,195.11. 0.87% of the stock is owned by insiders.
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.