Balfour Beatty (LON:BBY) Sets New 52-Week High - Still a Buy?

Balfour Beatty plc (LON:BBY - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 517 ($7.09) and last traded at GBX 516.99 ($7.09), with a volume of 11715000 shares. The stock had previously closed at GBX 513 ($7.04).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 510 ($7.00) target price on shares of Balfour Beatty in a research note on Monday, March 17th.

Balfour Beatty Stock Up 1.7%

The business has a 50-day moving average of GBX 485.21 and a 200-day moving average of GBX 459.87. The company has a debt-to-equity ratio of 79.85, a quick ratio of 0.84 and a current ratio of 0.99. The stock has a market capitalization of £2.66 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 3.75 and a beta of 0.81.

Balfour Beatty announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 12th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Philip Harrison sold 155,560 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of GBX 434 ($5.96), for a total transaction of £675,130.40 ($926,486.07). Corporate insiders own 1.15% of the company's stock.

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.

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