Balfour Beatty (LON:BBY) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Balfour Beatty plc (LON:BBY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 776.18 and traded as high as GBX 877.50. Balfour Beatty shares last traded at GBX 872, with a volume of 1,914,203 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Berenberg Bank increased their target price on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the company a “buy” rating in a research report on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and set a GBX 985 price objective on shares of Balfour Beatty in a report on Monday, June 8th. Three 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 target price of GBX 856.67.

Balfour Beatty Trading Up 3.1%

The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 89.50. The stock has a 50-day simple moving average of GBX 830.39 and a 200 day simple moving average of GBX 777.04. The company has a market cap of £4.29 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 3.75 and a beta of 0.60.

Balfour Beatty (LON:BBY) last announced its quarterly earnings data on Thursday, June 18th. The company reported GBX 14.40 earnings per share (EPS) for the quarter. The firm had revenue of GBX 452.20 billion during the quarter. Balfour Beatty had a return on equity of 23.73% and a net margin of 2.77%. As a group, equities research analysts predict that Balfour Beatty plc will post 43.3100698 EPS for the current fiscal year.

Balfour Beatty announced that its board has authorized a share buyback program on Wednesday, March 11th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Balfour Beatty

In other news, insider Philip Hoare sold 121,214 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total value of £968,499.86. Also, insider Philip Harrison sold 109,744 shares of Balfour Beatty stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total value of £876,854.56. 1.22% of the stock is currently owned by corporate insiders.

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.