Bellway (LON:BWY) Shares Cross Above 200-Day Moving Average – What’s Next?

Bellway p.l.c. (LON:BWY)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 1,990.14 and traded as high as GBX 2,158. Bellway shares last traded at GBX 2,158, with a volume of 800,413 shares traded.

Analyst Ratings Changes

Several analysts have recently issued reports on BWY shares. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,380 price objective on shares of Bellway in a research note on Wednesday, October 14th. Berenberg Bank cut their target price on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Citigroup lifted their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 2,527.89.

Bellway Price Performance

The firm’s 50-day moving average price is GBX 2,092.51 and its 200-day moving average price is GBX 1,991.52. The company has a market cap of £2.44 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37.

Bellway (LON:BWY) last posted its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. On average, sell-side analysts anticipate that Bellway p.l.c. will post 159.07 earnings per share for the current year.

Bellway declared that its board has approved a stock repurchase plan on Tuesday, September 1st that authorizes the company to buy back 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership 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.