Bellway (LON:BWY) Given New GBX 3,300 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Bellway from GBX 3,150 to GBX 3,300, indicating a potential upside of 27.51% from the company's previous close.
• Bellway's stock is currently rated as a "Moderate Buy" with an average target price of GBX 3,193 by equities analysts.
• The company recently announced a share buyback program, which suggests management believes its shares are undervalued.

Bellway (LON:BWY - Get Free Report) had its price objective hoisted by equities researchers at Royal Bank Of Canada from GBX 3,150 to GBX 3,300 in a report released on Wednesday,Digital Look reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 27.51% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Citigroup decreased their price objective on shares of Bellway from GBX 3,100 to GBX 3,000 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Jefferies Financial Group cut their price target on shares of Bellway from GBX 3,626 to GBX 3,482 and set a "buy" rating on the stock in a report on Wednesday, October 8th. Finally, Berenberg Bank reissued a "hold" rating and set a GBX 2,900 target price on shares of Bellway in a research report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of GBX 3,193.

Bellway Trading Down 0.8%

Bellway stock traded down GBX 22 during midday trading on Wednesday, hitting GBX 2,588. 436,425 shares of the stock were exchanged, compared to its average volume of 942,420. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75. The stock's 50-day simple moving average is GBX 2,404.17 and its 200 day simple moving average is GBX 2,545.15. Bellway has a fifty-two week low of GBX 2,134 and a fifty-two week high of GBX 3,384. The stock has a market capitalization of £3.07 billion, a price-to-earnings ratio of 2,105.78, a PEG ratio of 3.40 and a beta of 1.46.

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

Bellway declared that its Board of Directors has initiated a share buyback program on Tuesday, October 14th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.