Bellway (LON:BWY) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Bellway shares dropped below their two hundred day moving average of GBX 2,546.93, trading as low as GBX 2,428 during Monday's session.
• Royal Bank of Canada has dropped Bellway’s rating to "sector perform" and cut its price target from GBX 3,600 to GBX 3,150.
• The company reported a debt-to-equity ratio of 3.75 and a current ratio of 5.26, indicating its financial structure amidst recent stock fluctuations.

Bellway p.l.c. (LON:BWY - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 2,546.93 ($34.21) and traded as low as GBX 2,428 ($32.61). Bellway shares last traded at GBX 2,438 ($32.75), with a volume of 459,781 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded shares of Bellway to a "sector perform" rating and cut their price target for the company from GBX 3,600 ($48.35) to GBX 3,150 ($42.31) in a report on Wednesday, July 9th.

Bellway Stock Up 1.7%

The company has a debt-to-equity ratio of 3.75, a quick ratio of 0.50 and a current ratio of 5.26. The company has a market capitalization of £2.92 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 3.40 and a beta of 1.46. The stock's fifty day simple moving average is GBX 2,670.05 and its two-hundred day simple moving average is GBX 2,546.93.

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.

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