Bellway (LON:BWY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bellway (LON:BWY) had its target price increased by JPMorgan Chase & Co. from GBX 3,280 to GBX 3,820 in a research report issued to clients and investors on Thursday,Digital Look reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 40.54% from the company’s previous close.

BWY has been the subject of several other reports. Royal Bank Of Canada upped their price objective on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a report on Wednesday, October 15th. The Goldman Sachs Group assumed coverage on shares of Bellway in a report on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 target price on the stock. Citigroup upped their target price on Bellway from GBX 3,000 to GBX 3,090 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,489 price objective on shares of Bellway in a research note on Wednesday, October 22nd. Finally, Berenberg Bank reiterated a “hold” rating and issued a GBX 2,900 target price on shares of Bellway in a report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 3,240.50.

Bellway Trading Down 1.1%

Shares of Bellway stock opened at GBX 2,718 on Thursday. The firm has a market cap of £3.22 billion, a PE ratio of 20.62, a P/E/G ratio of 3.40 and a beta of 1.46. The business’s fifty day moving average is GBX 2,630.10 and its two-hundred day moving average is GBX 2,590.85. Bellway has a fifty-two week low of GBX 2,134 and a fifty-two week high of GBX 2,998. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75.

Bellway (LON:BWY) last released its 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%. Analysts anticipate that Bellway will post 159.0741715 earnings per share for the current year.

Bellway declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 14th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Simon Scougall sold 4,633 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £128,195.11. Also, insider Shane Doherty acquired 2,021 shares of Bellway stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of GBX 636 per share, for a total transaction of £12,853.56. 0.84% of the stock is currently owned by insiders.

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.