Citigroup Forecasts Strong Price Appreciation for Bellway (LON:BWY) Stock

Key Points

• Citigroup has raised its price target for Bellway (LON:BWY) from GBX 3,000 to GBX 3,090, indicating a potential upside of 19.40% from the stock's previous close, coupled with a "buy" rating.
• Bellway's stock has seen trading fluctuations, with a current price around GBX 2,588 and a market cap of £3.07 billion; the stock has also recorded a 52-week low of GBX 2,134.
• The company has recently approved a stock repurchase program, signaling that its leadership believes the shares are undervalued.

Bellway (LON:BWY - Get Free Report) had its price target lifted by Citigroup from GBX 3,000 to GBX 3,090 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 19.40% from the stock's previous close.

Several other analysts also recently weighed in on BWY. Royal Bank Of Canada lifted their target price on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a "sector perform" rating in a report on Wednesday. Jefferies Financial Group lowered their price objective on 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 note 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of GBX 3,193.

Bellway Stock Performance

Shares of BWY stock traded down GBX 22 during midday trading on Wednesday, hitting GBX 2,588. The company had a trading volume of 436,425 shares, compared to its average volume of 942,420. The company'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 52-week low of GBX 2,134 and a 52-week high of GBX 3,384. The stock has a market cap 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. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50.

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

Bellway announced that its board has approved a stock repurchase program on Tuesday, October 14th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are 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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