Bellway p.l.c. (LON:BWY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Bellway has a “Moderate Buy” consensus from nine analysts, with six buy ratings and three hold ratings.
• The average 12-month price target is GBX 2,522.33, above the stock’s reported opening price of GBX 2,048; recent targets range from GBX 2,380 to GBX 2,917.
• Analyst sentiment remains generally positive, though some firms have reduced their targets, including JPMorgan, which cut its target from GBX 3,480 to GBX 2,410.

Bellway p.l.c. (LON:BWY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is GBX 2,522.33.

BWY has been the topic of a number of analyst reports. Citigroup increased their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the company a "buy" rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. downgraded shares of Bellway to an "overweight" rating and cut their target price for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Jefferies Financial Group decreased their price target on shares of Bellway from GBX 2,394 to GBX 2,380 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 2,917 price target on shares of Bellway in a report on Wednesday, August 12th. Finally, Berenberg Bank reissued a "buy" rating and issued a GBX 2,400 price objective on shares of Bellway in a research report on Friday, June 26th.

Bellway Price Performance

BWY stock opened at GBX 2,048 on Friday. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26. The stock's 50 day moving average price is GBX 2,057.75 and its 200 day moving average price is GBX 2,003.73. The firm has a market cap of £2.29 billion, a P/E ratio of 15.56, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890.

Bellway announced that its board has approved a stock buyback program on Tuesday, September 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.