Balfour Beatty (LON:BBY) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Balfour Beatty plc (LON:BBY)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 748.95 and traded as high as GBX 803. Balfour Beatty shares last traded at GBX 796.50, with a volume of 1,621,334 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lifted their price objective on Balfour Beatty from GBX 800 to GBX 870 and gave the company a “buy” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 792.50.

Balfour Beatty Stock Up 1.5%

The company’s fifty day moving average price is GBX 802.67 and its 200-day moving average price is GBX 748.95. The stock has a market capitalization of £3.83 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 3.75 and a beta of 0.60. The company has a quick ratio of 0.84, a current ratio of 1.02 and a debt-to-equity ratio of 89.50.

Balfour Beatty (LON:BBY) last released its earnings results on Wednesday, March 11th. The company reported GBX 47.60 earnings per share (EPS) for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. Analysts forecast that Balfour Beatty plc will post 43.3100698 earnings per share for the current year.

Balfour Beatty declared that its board has initiated a stock buyback plan on Wednesday, March 11th 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 typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Balfour Beatty

In other news, insider Philip Harrison sold 109,744 shares of Balfour Beatty stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total transaction of £876,854.56. Also, insider Philip Hoare sold 121,214 shares of Balfour Beatty stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total transaction of £968,499.86. 1.09% 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.