Insider Buying: Bellway (LON:BWY) Insider Purchases £122,439.12 in Stock

Bellway p.l.c. (LON:BWY) insider Jason Honeyman acquired 5,658 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average price of GBX 2,164 per share, for a total transaction of £122,439.12.

Jason Honeyman also recently made the following trade(s):

• On Monday, October 26th, Jason Honeyman sold 6,158 shares of Bellway stock. The shares were sold at an average price of GBX 2,218, for a total transaction of £136,584.44.

Bellway Stock Up 0.5%

Shares of BWY stock traded up GBX 12 during trading hours on Monday, reaching GBX 2,200. 3,161,371 shares of the stock traded hands, compared to its average volume of 3,926,299. The firm has a market capitalization of £2.45 billion, a PE ratio of 16.72, a PEG ratio of 3.40 and a beta of 1.37. Bellway p.l.c. has a 1-year low of GBX 1,715 and a 1-year high of GBX 2,890. The business has a fifty day moving average price of GBX 2,092.51 and a 200 day moving average price of GBX 1,992.07.

Bellway (LON:BWY) last issued its quarterly earnings data on Tuesday, October 13th. The company reported GBX 187.80 earnings per share (EPS) for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. Research analysts expect that Bellway p.l.c. will post 159.07 earnings per share for the current fiscal year.

Bellway announced that its board has approved a share repurchase program on Tuesday, September 1st that allows the company to repurchase 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Share buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BWY. Citigroup upped their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,380 price objective on shares of Bellway in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a research report on Wednesday, August 12th. Finally, Berenberg Bank dropped their target price on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 2,527.89.

Bellway Company Profile

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.