Jefferies Financial Group Cuts Bellway (LON:BWY) Price Target to GBX 3,461

Bellway (LON:BWY) had its price objective reduced by equities researchers at Jefferies Financial Group from GBX 3,476 to GBX 3,461 in a note issued to investors on Monday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 26.78% from the company’s current price.

BWY has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on Bellway from GBX 3,280 to GBX 3,820 and gave the stock an “overweight” rating in a report on Thursday, December 4th. The Goldman Sachs Group started coverage on Bellway in a research report on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 price objective on the stock. Citigroup boosted 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, Royal Bank Of Canada upped their price target on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bellway currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,237.50.

Bellway Stock Performance

BWY stock remained flat at GBX 2,730 during mid-day trading on Monday. 297,263 shares of the company’s stock traded hands, compared to its average volume of 1,193,202. Bellway has a 1 year low of GBX 2,134 and a 1 year high of GBX 2,998. The firm has a market cap of £3.20 billion, a PE ratio of 20.71, a PEG ratio of 3.40 and a beta of 1.46. The business has a fifty day simple moving average of GBX 2,715.91 and a 200 day simple moving average of GBX 2,571.42. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75.

Bellway declared that its board has approved a share buyback program on Tuesday, October 14th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Jason Honeyman sold 19,752 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of GBX 2,767, for a total transaction of £546,537.84. Also, insider Shane Doherty acquired 2,021 shares of Bellway stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of GBX 636 per share, for a total transaction of £12,853.56. Corporate 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.