Bellway (LON:BWY) Lowered to “Overweight” Rating by JPMorgan Chase & Co.

Bellway (LON:BWY) was downgraded by research analysts at JPMorgan Chase & Co. to an “overweight” rating in a research note issued to investors on Tuesday,Digital Look reports. They currently have a GBX 2,410 price objective on the stock, down from their previous price objective of GBX 3,480. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 32.05% from the stock’s current price.

BWY has been the topic of several other reports. Berenberg Bank cut their target price on shares of Bellway from GBX 2,800 to GBX 2,100 and set a “hold” rating on the stock in a research note on Thursday, June 11th. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,394 target price on shares of Bellway in a research note on Wednesday, June 10th. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 3,150 target price on shares of Bellway in a research note on Wednesday, March 25th. Bank of America cut their target price on shares of Bellway from GBX 3,200 to GBX 2,200 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, Stifel Nicolaus cut their target price on shares of Bellway from GBX 2,280 to GBX 1,900 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,412.25.

Bellway Trading Up 2.3%

BWY traded up GBX 41 during trading on Tuesday, reaching GBX 1,825. 446,445 shares of the company’s stock were exchanged, compared to its average volume of 5,080,697. Bellway has a one year low of GBX 1,715 and a one year high of GBX 2,998. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 5.39. The stock has a market capitalization of £2.08 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.40 and a beta of 1.38. The firm has a fifty day moving average price of GBX 1,902.92 and a two-hundred day moving average price of GBX 2,345.65.

Bellway (LON:BWY) last released its quarterly earnings results on Tuesday, March 24th. The company reported GBX 91.20 earnings per share (EPS) for the quarter. Bellway had a net margin of 5.46% and a return on equity of 4.43%. As a group, equities research analysts forecast that Bellway will post 159.0741715 earnings per share for the current fiscal year.

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.