Bellway (LON:BWY) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of Bellway p.l.c. (LON:BWY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,818.80 ($36.60) and traded as high as GBX 3,150 ($40.90). Bellway shares last traded at GBX 3,128 ($40.61), with a volume of 235,081 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Berenberg Bank raised their target price on shares of Bellway from GBX 2,900 ($37.65) to GBX 3,200 ($41.55) and gave the stock a “hold” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Bellway in a research note on Friday, July 5th. Finally, Citigroup restated a “buy” rating and set a GBX 3,368 ($43.73) price target on shares of Bellway in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,204.20 ($41.60).

Bellway Trading Down 1.4 %

The business’s 50 day moving average is GBX 3,112.02 and its two-hundred day moving average is GBX 2,823.93. The firm has a market capitalization of £3.62 billion, a P/E ratio of 1,694.44, a PEG ratio of 3.40 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 5.78 and a debt-to-equity ratio of 3.78.

Bellway Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be given a dividend of GBX 38 ($0.49) per share. The ex-dividend date of this dividend is Thursday, November 28th. This is a positive change from Bellway’s previous dividend of $16.00. This represents a dividend yield of 1.15%. Bellway’s payout ratio is 6,166.67%.

Insider Activity

In other Bellway news, insider Keith Adey sold 27,303 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($42.29), for a total value of £889,258.71 ($1,154,581.55). 3.73% of the stock is owned by company insiders.

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.