Balfour Beatty (LON:BBY) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Balfour Beatty plc (LON:BBY) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 462.49 ($6.31) and traded as high as GBX 518 ($7.07). Balfour Beatty shares last traded at GBX 518 ($7.07), with a volume of 700,085 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 510 ($6.96) price objective on shares of Balfour Beatty in a report on Monday, March 17th.

Balfour Beatty Trading Down 1.5%

The stock has a market cap of £2.60 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 3.75 and a beta of 0.81. The company has a debt-to-equity ratio of 79.85, a current ratio of 0.99 and a quick ratio of 0.84. The company’s fifty day moving average price is GBX 495.14 and its 200-day moving average price is GBX 462.49.

Balfour Beatty declared that its board has initiated a share buyback program on Wednesday, March 12th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Balfour Beatty Company Profile

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.