Bellway (LON:BWY) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Bellway p.l.c. (LON:BWY) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,008.21 and traded as high as GBX 2,104. Bellway shares last traded at GBX 2,092, with a volume of 399,569 shares.

Wall Street Analysts Forecast Growth

BWY has been the topic of a number of research reports. Citigroup upped their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group dropped their target price on shares of Bellway from GBX 2,394 to GBX 2,380 and set a “buy” rating for the company in a report on Wednesday, August 12th. JPMorgan Chase & Co. downgraded Bellway to an “overweight” rating and cut their price objective for the company from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Berenberg Bank restated a “buy” rating and issued a GBX 2,400 price target on shares of Bellway in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,917 price target on shares of Bellway in a research note on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,522.33.

Bellway Trading Down 2.8%

The company has a market capitalization of £2.29 billion, a P/E ratio of 15.56, a PEG ratio of 3.40 and a beta of 1.37. The business has a fifty day moving average of GBX 2,054.13 and a 200-day moving average of GBX 2,003.42. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.50 and a current ratio of 5.26.

Bellway declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.