Jefferies Financial Group Has Lowered Expectations for Bellway (LON:BWY) Stock Price

Bellway (LON:BWY) had its price objective reduced by equities research analysts at Jefferies Financial Group from GBX 2,394 to GBX 2,380 in a research note issued to investors on Wednesday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 9.27% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Bellway to an “overweight” rating and cut their price target for the stock from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Citigroup lifted their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Berenberg Bank restated a “buy” rating and set a GBX 2,400 price target on shares of Bellway in a research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,522.33.

Bellway Price Performance

Shares of BWY opened at GBX 2,178 on Wednesday. The stock has a market capitalization of £2.45 billion, a PE ratio of 16.55, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a fifty-two week low of GBX 1,715 and a fifty-two 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. The company has a 50 day moving average price of GBX 1,929.26 and a 200-day moving average price of GBX 2,128.36.

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.