Bellway (LON:BWY) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Bellway p.l.c. (LON:BWY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,586.74 and traded as high as GBX 2,808. Bellway shares last traded at GBX 2,779.37, with a volume of 778,717 shares trading hands.

Wall Street Analysts Forecast Growth

BWY has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 3,489 price objective on shares of Bellway in a report on Wednesday, October 22nd. Citigroup increased their target price on shares of Bellway from GBX 3,000 to GBX 3,090 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Berenberg Bank reissued a “hold” rating and issued a GBX 2,900 price target on shares of Bellway in a research note on Monday, September 8th. Royal Bank Of Canada upped their price objective 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. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Bellway in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,194.75.

Bellway Stock Down 0.9%

The company has a debt-to-equity ratio of 3.75, a quick ratio of 0.50 and a current ratio of 5.26. The business has a 50 day simple moving average of GBX 2,495.63 and a 200-day simple moving average of GBX 2,586.74. The firm has a market capitalization of £3.28 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 3.40 and a beta of 1.46.

Bellway (LON:BWY) last announced its quarterly earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. On average, equities analysts expect that Bellway p.l.c. will post 159.0741715 EPS for the current year.

Bellway declared that its board has authorized a stock repurchase plan on Tuesday, October 14th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Bellway

In other Bellway news, insider Shane Doherty acquired 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of GBX 636 per share, for a total transaction of £12,853.56. Also, insider Jason Honeyman acquired 5,839 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of GBX 2,636 per share, with a total value of £153,916.04. Corporate insiders own 0.84% of the company’s stock.

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.