Citigroup Forecasts Strong Price Appreciation for Bellway (LON:BWY) Stock

Bellway (LON:BWY) had its target price boosted by research analysts at Citigroup from GBX 2,300 to GBX 2,500 in a research note issued on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 15.63% from the company’s current price.

BWY has been the subject of several other reports. Jefferies Financial Group restated a “buy” rating and set a GBX 2,394 price target on shares of Bellway in a research report on Wednesday, June 10th. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,400 price objective on shares of Bellway in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered Bellway to an “overweight” rating and lowered their target price for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 2,474.75.

Bellway Price Performance

BWY stock opened at GBX 2,162 on Wednesday. The firm has a market cap of £2.43 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.40 and a beta of 1.37. The firm’s fifty day moving average is GBX 1,929.26 and its 200 day moving average is GBX 2,128.36. Bellway has a 52 week low of GBX 1,715 and a 52 week high of GBX 2,890. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26.

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.