According to Bloomberg, analysts at Berenberg Bank lowered their recommendation for Bellway (LON: BWY) in a research report issued on Monday. Instead of recommending “buy,” they stated that investors should “hold” on to their shares. Their current estimate for the stock price is GBX 2,300 (or 27.79 USD), which is a reduction from their earlier estimate of GBX 4,230 (or 51.11 USD). If the stock were to hit the target price stated by Berenberg Bank, it would represent a gain of 11.11 percent compared to where it is currently priced. In recent times, BWY has been the subject of several more reports that have been published.
In a report made public on Wednesday, August 10th, the investment research firm Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Bellway and set a GBX 3,289 ($39.74) price objective on the company’s common stock. Their “buy” recommendation on Bellway shares in a research report on Wednesday, May 25th. The study’s target price for Bellway shares is presently set at GBX 3,040 ($36.73), and Liberum Capital confirmed their “buy” rating on the stock. In a research report released on Wednesday, August 10th, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Bellway and set a GBX 3,230 ($39.03) price objective on the company’s stock. This was probably not the last piece of positive news regarding the company.
On four occasions, research analysts recommended purchasing the company’s shares, while they advised shareholders to maintain their current stock holdings on three occasions. According to information from Bloomberg.com, the current recommendation for Bellway is a “Moderate Buy,” Market analysts believe that the stock will reach a price of GBX 3,337 ($40.32) in the distant future. Monday was the first day that shares of BWY were traded publicly on the market, and the opening price for those shares was GBX 2,070 ($25.01). The company’s price-to-earnings ratio is currently at 622.22, and its market capitalization has reached 2.56 billion dollars. Over the past year, the price of a Bellway ticket has fluctuated between a high of GBX 3,544 ($42.82) and a low of GBX 1,865 ($22.54). The corporation has a debt-to-equity ratio of 3.79, a quick ratio of 0.52, and a current ratio of 5.36, all of which are values possessed by the corporation.
The moving average price for the stock over the last 50 days is presently sitting at GBP 2,227.47, and the moving average price for the stock over the past 200 days is currently resting at GBP 2,377.98. Bellway Plc and its subsidiaries are active participants in the house construction sector throughout the United Kingdom. This industry includes new home construction. To meet the demand for affordable housing, this company develops new properties, markets and sells existing ones, and donates land to charitable housing groups. There are apartments with one bedroom and family homes with six bedrooms among the available properties. Bellway and Ashberry are two brands under which it conducts business in the housing market.