Insider Buying: Bellway (LON:BWY) Insider Acquires £63,773.08 in Stock

Bellway p.l.c. (LON:BWY) insider Shane Doherty purchased 2,947 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were bought at an average price of GBX 2,164 per share, with a total value of £63,773.08.

Bellway Stock Performance

Shares of LON BWY traded up GBX 12 during trading hours on Monday, hitting GBX 2,200. The company’s stock had a trading volume of 3,161,371 shares, compared to its average volume of 3,926,299. Bellway p.l.c. has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The stock has a market cap of £2.45 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.40 and a beta of 1.37. The business has a 50-day simple moving average of GBX 2,092.51 and a 200-day simple moving average of GBX 1,992.07.

Bellway (LON:BWY) last posted its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. On average, equities research analysts forecast that Bellway p.l.c. will post 159.07 EPS for the current year.

Bellway declared that its board has authorized a share buyback program on Tuesday, September 1st that authorizes the company to buy back 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Share buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

BWY has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and set a GBX 2,380 price objective on shares of Bellway in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. Citigroup raised their target price on Bellway from GBX 2,300 to GBX 2,500 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Berenberg Bank decreased their price objective on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Bellway has an average rating of “Moderate Buy” and a consensus target price 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.