Bellway (LON:BWY) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Bellway p.l.c. (LON:BWY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,575.34 and traded as high as GBX 2,724. Bellway shares last traded at GBX 2,668, with a volume of 181,228 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BWY shares. Berenberg Bank reissued a “hold” rating and set a GBX 2,900 target price on shares of Bellway in a report on Monday, September 8th. Royal Bank Of Canada lifted their target price on Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a report on Wednesday, October 15th. Jefferies Financial Group reissued a “buy” rating and set a GBX 3,489 target price on shares of Bellway in a report on Wednesday, October 22nd. Citigroup lifted their target price on Bellway from GBX 3,000 to GBX 3,090 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Bellway in a report on Friday, October 17th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,194.75.

Bellway Stock Down 0.4%

The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. The company has a market cap of £3.15 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 3.40 and a beta of 1.46. The stock has a fifty day moving average price of GBX 2,445.72 and a two-hundred day moving average price of GBX 2,575.34.

Bellway (LON:BWY) last issued its quarterly earnings results 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%. As a group, sell-side analysts expect that Bellway p.l.c. will post 159.0741715 EPS for the current year.

Bellway declared that its Board of Directors has approved a share buyback program on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.