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

Key Points

• Jefferies reaffirmed its Buy rating on Bellway and set a GBX 2,380 price target, implying approximately 3.03% upside from the previous close.
• Analyst sentiment remains positive, with six Buy ratings and three Holds; Bellway has a consensus rating of Moderate Buy and an average price target of GBX 2,522.33.
• Bellway shares opened at GBX 2,310, with a market capitalization of about £2.59 billion and a one-year trading range of GBX 1,715 to GBX 2,890.

Bellway (LON:BWY - Get Free Report)'s stock had its "buy" rating restated by Jefferies Financial Group in a report released on Monday, London Stock Exchange reports. They presently have a GBX 2,380 price objective on the stock. Jefferies Financial Group's target price would suggest a potential upside of 3.03% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Citigroup raised their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. cut shares of Bellway to an "overweight" rating and lowered their price target for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Berenberg Bank reissued a "buy" rating and issued a GBX 2,400 price objective on shares of Bellway in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 2,917 price objective on shares of Bellway in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 2,522.33.

Bellway Stock Performance

Shares of Bellway stock opened at GBX 2,310 on Monday. Bellway has a one year low of GBX 1,715 and a one year high of GBX 2,890. The company has a market cap of £2.59 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 3.40 and a beta of 1.37. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26. The business's 50 day moving average price is GBX 2,071.92 and its 200 day moving average price is GBX 1,986.06.

Bellway declared that its board has approved a share repurchase plan on Tuesday, September 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is 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.