Bellway (LON:BWY) Insider Shane Doherty Purchases 2,947 Shares of Stock

Key Points

• Bellway insider Shane Doherty purchased 2,947 shares at an average price of GBX 2,164, for a total investment of approximately £63,773.
• Bellway shares rose 0.5% to GBX 2,200, giving the company a market capitalization of about £2.45 billion. The stock trades above both its 50-day and 200-day moving averages.
• Analysts maintain a favorable outlook, with six Buy ratings and three Holds, producing a consensus rating of “Moderate Buy” and an average price target of GBX 2,527.89.

Bellway p.l.c. (LON:BWY - Get Free Report) insider Shane Doherty acquired 2,947 shares of the stock in a transaction on Friday, October 23rd. The stock was bought at an average cost of GBX 2,164 per share, with a total value of £63,773.08.

Bellway Stock Up 0.5%

Shares of BWY traded up GBX 12 during trading hours on Monday, reaching GBX 2,200. 3,161,371 shares of the company traded hands, compared to its average volume of 3,926,299. Bellway p.l.c. has a 12-month low of GBX 1,715 and a 12-month high of GBX 2,890. The stock has a market capitalization of £2.45 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.40 and a beta of 1.37. The business has a fifty day moving average price of GBX 2,092.51 and a 200-day moving average price of GBX 1,992.07.

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, research analysts predict that Bellway p.l.c. will post 159.07 EPS for the current fiscal year.

Bellway declared that its board has approved a share repurchase plan on Tuesday, September 1st that allows the company to buy back 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BWY shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. Jefferies Financial Group reissued a "buy" rating and set a GBX 2,380 price target on shares of Bellway in a research report on Wednesday, October 14th. Citigroup increased their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Finally, Berenberg Bank reduced their price objective on Bellway from GBX 2,550 to GBX 2,450 and set a "buy" rating for the company in a research report on Wednesday, October 14th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,527.89.

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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