Bellway (LON:BWY) Shares Cross Below 200 Day Moving Average – Time to Sell?

Bellway p.l.c. (LON:BWY)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,588.08 and traded as low as GBX 2,584. Bellway shares last traded at GBX 2,612, with a volume of 27,055,803 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on BWY shares. The Goldman Sachs Group assumed coverage on Bellway in a report on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 target price on the stock. Royal Bank Of Canada raised their price objective on Bellway from GBX 3,150 to GBX 3,300 and gave the stock a “sector perform” rating in a research report on Wednesday, October 15th. 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. Citigroup increased their target price on shares of Bellway from GBX 3,090 to GBX 3,100 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 3,242.17.

Bellway Trading Up 1.5%

The firm has a 50-day moving average of GBX 2,670.21 and a 200 day moving average of GBX 2,587.91. The company has a market cap of £3.14 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75.

Bellway (LON:BWY) last issued its quarterly earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share (EPS) for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. On average, analysts predict that Bellway p.l.c. will post 159.0741715 earnings per share for the current fiscal year.

Bellway announced that its board has approved a share repurchase program on Tuesday, October 14th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Shane Doherty acquired 2,021 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of GBX 636 per share, with a total value of £12,853.56. Also, insider Jason Honeyman sold 19,752 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total value of £546,537.84. Company insiders own 0.87% 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.