Balfour Beatty (LON:BBY) Hits New 1-Year High – Here’s What Happened

Balfour Beatty plc (LON:BBY) reached a new 52-week high on Thursday . The stock traded as high as GBX 874 and last traded at GBX 873.25, with a volume of 1428219 shares traded. The stock had previously closed at GBX 865.11.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Berenberg Bank increased their target price on Balfour Beatty from GBX 800 to GBX 870 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 985 target price on shares of Balfour Beatty in a research report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Balfour Beatty presently has an average rating of “Buy” and a consensus target price of GBX 856.67.

Balfour Beatty Trading Up 0.6%

The company has a quick ratio of 0.84, a current ratio of 1.02 and a debt-to-equity ratio of 89.50. The firm has a market cap of £4.15 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 3.75 and a beta of 0.60. The business has a 50 day moving average price of GBX 817.54 and a 200-day moving average price of GBX 763.56.

Balfour Beatty announced that its board has initiated a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Balfour Beatty

In other news, insider Philip Hoare sold 121,214 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total value of £968,499.86. Also, insider Philip Harrison sold 109,744 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total value of £876,854.56. 1.22% of the stock is currently owned by company insiders.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.