Bellway p.l.c. (LON:BWY) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate Bellway a “Moderate Buy”: Six of nine covering firms recommend buying the stock, while three rate it hold. The average one-year price target is GBX 2,527.89.
• Bellway shares opened at GBX 2,276, down 0.6%; the company reported quarterly EPS of GBX 187.80 and a 6.12% net margin.
• The board authorized an open-market share buyback, and insiders have also been buying shares, including two purchases on October 23.

Bellway p.l.c. (LON:BWY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is GBX 2,527.89.

Several analysts have issued reports on BWY shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. Citigroup raised their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Berenberg Bank reduced their target price on Bellway from GBX 2,550 to GBX 2,450 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 2,380 target price on shares of Bellway in a report on Wednesday, October 14th.

Bellway Stock Down 0.6%

Shares of LON:BWY opened at GBX 2,276 on Monday. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The company's 50-day moving average price is GBX 2,112.38 and its two-hundred day moving average price is GBX 2,129.94. The firm has a market cap of £2.52 billion, a P/E ratio of 13.83, a P/E/G ratio of 3.40 and a beta of 1.37.

Bellway (LON:BWY - Get Free Report) last posted its quarterly earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. As a group, equities analysts predict that Bellway will post 159.07 earnings per share for the current fiscal year.

Bellway announced that its board has authorized a stock repurchase program on Tuesday, September 1st that allows the company to repurchase shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Bellway

In other Bellway news, insider Simon Scougall bought 3,141 shares of the business's stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average price of GBX 2,164 per share, for a total transaction of £67,971.24. Also, insider Shane Doherty bought 2,947 shares of the business's stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of GBX 2,164 per share, for a total transaction of £63,773.08. Over the last 90 days, insiders have acquired 11,746 shares of company stock worth $25,418,344. Company insiders own 0.94% of the company's stock.

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.

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