Bellway (LON:BWY) Given New GBX 3,000 Price Target at Citigroup

Key Points

• Citigroup has lowered its price target for Bellway from GBX 3,100 to GBX 3,000, while still maintaining a "buy" rating, indicating a potential upside of 20.48% from the previous close.
• Similarly, the Royal Bank Of Canada downgraded Bellway's shares to a "sector perform" rating and reduced its price target from GBX 3,600 to GBX 3,150.
• On the stock market, Bellway shares recently rose by GBX 12, reaching GBX 2,490, with a significant volume of trading occurring amid its fluctuating performance indicators.

Bellway (LON:BWY - Get Free Report) had its target price reduced by investment analysts at Citigroup from GBX 3,100 ($41.87) to GBX 3,000 ($40.52) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 23.56% from the company's previous close.

Separately, Royal Bank Of Canada cut Bellway to a "sector perform" rating and reduced their target price for the company from GBX 3,600 ($48.63) to GBX 3,150 ($42.55) in a research note on Wednesday, July 9th.

Bellway Stock Down 0.3%

BWY traded down GBX 8 ($0.11) on Wednesday, reaching GBX 2,428 ($32.80). The company's stock had a trading volume of 370,815 shares, compared to its average volume of 902,405. Bellway has a 1 year low of GBX 2,134 ($28.83) and a 1 year high of GBX 3,384 ($45.71). The business's 50 day moving average is GBX 2,649.91 and its 200 day moving average is GBX 2,542.07. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50. The stock has a market cap of £2.86 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46.

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.