Balfour Beatty (LON:BBY) Sets New 52-Week High – What’s Next?

Balfour Beatty plc (LON:BBY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 841 and last traded at GBX 836.50, with a volume of 2120288 shares traded. The stock had previously closed at GBX 828.50.

Analysts Set New Price Targets

Separately, Berenberg Bank boosted their price target on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Balfour Beatty has an average rating of “Buy” and a consensus price target of GBX 792.50.

Balfour Beatty Stock Up 3.0%

The firm has a market cap of £4.12 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59. The stock’s 50 day simple moving average is GBX 776.85 and its 200 day simple moving average is GBX 730.46. The company has a debt-to-equity ratio of 89.50, a quick ratio of 0.84 and a current ratio of 1.02.

Balfour Beatty (LON:BBY) last announced its quarterly earnings results on Wednesday, March 11th. The company reported GBX 47.60 EPS for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. Research analysts anticipate that Balfour Beatty plc will post 43.3100698 EPS for the current year.

Balfour Beatty announced that its board has initiated a stock buyback program on Wednesday, March 11th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Balfour Beatty

In related news, insider Philip Hoare sold 121,214 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total transaction of £968,499.86. Also, insider Philip Harrison sold 109,744 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total transaction of £876,854.56. Corporate insiders own 1.09% of the company’s stock.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.