Bellway plc (BWY) Sets New 12-Month High on Analyst Upgrade
Bellway plc (LON:BWY) shares reached a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from GBX 3,400 to GBX 3,600. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bellway plc traded as high as GBX 3,297 ($44.34) and last traded at GBX 3,297 ($44.34), with a volume of 443,304 shares trading hands. The stock had previously closed at GBX 3,220 ($43.30).
BWY has been the topic of a number of other reports. Liberum Capital reissued a “buy” rating and issued a GBX 3,032 ($40.77) price target on shares of Bellway plc in a report on Thursday, June 15th. Credit Suisse Group boosted their price target on Bellway plc from GBX 2,976 ($40.02) to GBX 3,545 ($47.67) and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Barclays PLC reissued an “overweight” rating and issued a GBX 3,631 ($48.83) price target on shares of Bellway plc in a report on Wednesday. Bank of America Corporation reissued an “underperform” rating and issued a GBX 2,500 ($33.62) price target on shares of Bellway plc in a report on Tuesday, September 12th. Finally, Deutsche Bank AG boosted their price target on Bellway plc from GBX 3,023 ($40.65) to GBX 3,090 ($41.55) and gave the stock a “hold” rating in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 3,363.42 ($45.23).
The company’s market cap is GBX 4.04 billion. The firm’s 50-day moving average is GBX 3,162.51 and its 200-day moving average is GBX 2,954.88.
About Bellway plc
Bellway p.l.c is a holding company of the Bellway Group of companies. The Company is engaged in the building and selling of homes, ranging from one-bedroom apartments up to five-bedroom family homes, as well as providing social housing-to-housing associations. It focuses on providing traditional family housing outside of London and apartments within the London boroughs, in zone 2 and beyond.
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