Citigroup Cuts Bellway (LON:BWY) Price Target to GBX 3,000

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 price objective reduced by stock analysts at Citigroup from GBX 3,100 ($41.85) to GBX 3,000 ($40.50) in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 20.48% from the stock's previous close.

Separately, Royal Bank Of Canada downgraded shares of Bellway to a "sector perform" rating and cut their price target for the stock from GBX 3,600 ($48.60) to GBX 3,150 ($42.53) in a research note on Wednesday, July 9th.

Bellway Stock Performance

Shares of BWY traded up GBX 12 ($0.16) during mid-day trading on Wednesday, reaching GBX 2,490 ($33.62). 575,648 shares of the company's stock were exchanged, compared to its average volume of 914,836. The business's fifty day simple moving average is GBX 2,666.69 and its 200-day simple moving average is GBX 2,546.45. Bellway has a 52-week low of GBX 2,134 ($28.81) and a 52-week high of GBX 3,384 ($45.69). 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 capitalization of £2.93 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46.

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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