Bellway (LON:BWY) Stock Keeps “Buy” Rating at Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating reaffirmed by Jefferies Financial Group in a report released on Monday, Marketbeat reports. They currently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s price objective points to a potential upside of 9.78% from the company’s previous close.

Several other research analysts have also weighed in on BWY. Berenberg Bank reissued a “buy” rating and set a GBX 2,400 price objective on shares of Bellway in a research note on Friday, June 26th. Citigroup upped their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lowered shares of Bellway to an “overweight” rating and cut their target price for the stock from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 2,522.33.

Bellway Price Performance

Bellway stock opened at GBX 2,168 on Monday. The firm has a market capitalization of £2.43 billion, a P/E ratio of 16.47, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890. The business has a 50-day moving average of GBX 2,090.84 and a 200-day moving average of GBX 1,984.11. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39.

Bellway announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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.