Bellway (LON:BWY) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Bellway shares rose above their 200-day moving average, reaching GBX 2,104 before trading at GBX 2,092, signaling improved technical momentum.
• Analysts remain broadly positive: six rate the stock a Buy and three a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 2,522.33.
• Bellway has a £2.34 billion market capitalization and trades at a 15.90 P/E ratio, while its reported share buyback authorization permits repurchases of zero shares.

Bellway p.l.c. (LON:BWY - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,008.21 and traded as high as GBX 2,104. Bellway shares last traded at GBX 2,092, with a volume of 399,569 shares changing hands.

Analyst Upgrades and Downgrades

BWY has been the topic of a number of recent analyst reports. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,400 price target on shares of Bellway in a research note on Friday, June 26th. Citigroup upped their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Jefferies Financial Group reduced their target price on Bellway from GBX 2,394 to GBX 2,380 and set a "buy" rating on the stock in a report on Wednesday, August 12th. JPMorgan Chase & Co. cut Bellway to an "overweight" rating and decreased their target price for the stock from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 2,917 price target on shares of Bellway in a report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bellway presently has a consensus rating of "Moderate Buy" and an average target price of GBX 2,522.33.

Bellway Price Performance

The company has a market cap of £2.34 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 3.40 and a beta of 1.37. The company's 50-day simple moving average is GBX 2,049.34 and its 200-day simple moving average is GBX 2,008.21. The company has a debt-to-equity ratio of 5.39, a current ratio of 5.26 and a quick ratio of 0.50.

Bellway announced that its board has authorized a share buyback plan on Tuesday, September 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's management 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.

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