Bellway (LON:BWY) Stock Rating Reaffirmed as “Buy” by Jefferies Financial Group

Bellway (LON:BWY)‘s stock had its “buy” rating restated by Jefferies Financial Group in a research note issued to investors on Monday, September 28th, 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 13.33% from the stock’s previous close.

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

Bellway Trading Down 0.2%

Shares of LON:BWY traded down GBX 4 during trading hours on Monday, hitting GBX 2,100. 351,833 shares of the company’s stock traded hands, compared to its average volume of 4,032,059. The firm has a market capitalization of £2.35 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37. The business has a fifty day moving average price of GBX 2,096.42 and a 200-day moving average price of GBX 1,981.84. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890. 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 announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is 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.