Bellway’s (BWY) “Buy” Rating Reaffirmed at Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Financial Group in a note issued to investors on Monday, MarketBeat reports. They presently have a GBX 2,380 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 10.70% from the stock’s previous close.

BWY has been the subject of a number of other research reports. Citigroup boosted their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a research note on Wednesday, August 12th. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and dropped their price objective for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 2,400 price objective on shares of Bellway in a research report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,522.33.

Bellway Stock Performance

LON BWY opened at GBX 2,150 on Monday. The stock has a 50-day moving average of GBX 2,090.84 and a two-hundred day moving average of GBX 1,984.11. The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50. Bellway has a 1-year low of GBX 1,715 and a 1-year high of GBX 2,890. The company has a market cap of £2.41 billion, a P/E ratio of 16.34, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway announced that its board has initiated a share buyback program on Tuesday, September 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.