Bellway (LON:BWY) Earns "Buy" Rating from Jefferies Financial Group

Key Points

• Jefferies Financial Group has reiterated a "buy" rating for Bellway, with a price target of GBX 3,489, indicating an upside potential of 29.22%.
• Bellway recently announced a share buyback plan, which is often seen as a signal that the company's board believes its stock is undervalued.
• As of now, Bellway holds a consensus rating of "Moderate Buy" from analysts, with a current average target price of GBX 3,194.75.

Bellway (LON:BWY - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Jefferies Financial Group in a research note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 3,489 price target on the stock. Jefferies Financial Group's price objective points to a potential upside of 29.22% from the stock's current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Bellway in a report on Friday, October 17th. Citigroup upped their target price on Bellway from GBX 3,000 to GBX 3,090 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Royal Bank Of Canada upped their price target on Bellway from GBX 3,150 to GBX 3,300 and gave the stock a "sector perform" rating in a research report on Wednesday, October 15th. Finally, Berenberg Bank reissued a "hold" rating and set a GBX 2,900 price target on shares of Bellway in a research report on Monday, September 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 3,194.75.

Bellway Stock Performance

BWY traded up GBX 114 during mid-day trading on Wednesday, reaching GBX 2,700. 416,793 shares of the company traded hands, compared to its average volume of 932,979. The company's fifty day moving average price is GBX 2,414.86 and its 200-day moving average price is GBX 2,553.29. The stock has a market capitalization of £3.20 billion, a P/E ratio of 21.97, a P/E/G ratio of 3.40 and a beta of 1.46. Bellway has a 52-week low of GBX 2,134 and a 52-week high of GBX 3,152. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75.

Bellway (LON:BWY - Get Free Report) last announced its earnings results on Tuesday, October 14th. The company reported GBX 176.70 EPS for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. On average, sell-side analysts expect that Bellway will post 159.0741715 EPS for the current year.

Bellway declared that its board has approved a share buyback plan on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors 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.

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