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

Bellway (LON:BWY)‘s stock had its “buy” rating restated by equities researchers at Jefferies Financial Group in a report issued on Wednesday, Digital Look reports. They currently have a GBX 2,380 price objective on the stock. Jefferies Financial Group’s price target points to a potential upside of 12.48% from the stock’s current price.

Several other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. Citigroup increased their price target on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Berenberg Bank decreased their price objective on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut Bellway to an “overweight” rating and decreased their price objective for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bellway has an average rating of “Moderate Buy” and an average price target of GBX 2,527.89.

Bellway Stock Up 3.4%

Shares of BWY stock opened at GBX 2,116 on Wednesday. Bellway has a 52 week low of GBX 1,715 and a 52 week high of GBX 2,890. The stock has a market capitalization of £2.36 billion, a PE ratio of 16.08, a P/E/G ratio of 3.40 and a beta of 1.37. The firm has a 50 day moving average of GBX 2,093.75 and a two-hundred day moving average of GBX 1,981.61.

Bellway (LON:BWY) last posted its quarterly earnings data on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a return on equity of 5.49% and a net margin of 6.12%. Analysts expect that Bellway will post 159.07 EPS for the current fiscal year.

Bellway announced that its board has authorized a share repurchase program on Tuesday, September 1st that authorizes the company to buy back 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Share buyback programs are often a sign that the company’s leadership 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.