JPMorgan Chase & Co. Upgrades Bellway (LON:BWY) to Overweight

Bellway (LON:BWY) was upgraded by investment analysts at JPMorgan Chase & Co. to an “overweight” rating in a research note issued on Thursday, Marketbeat.com reports.

BWY has been the subject of several other reports. Citigroup reissued a “buy” rating and set a GBX 3,368 ($42.94) price target on shares of Bellway in a report on Thursday, August 15th. Berenberg Bank lifted their price target on Bellway from GBX 2,900 ($36.97) to GBX 3,200 ($40.80) and gave the stock a “hold” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 3,204.20 ($40.85).

Bellway Stock Performance

LON:BWY opened at GBX 2,536 ($32.33) on Thursday. The stock has a market cap of £3.01 billion, a P/E ratio of 1,408.89, a PEG ratio of 3.40 and a beta of 1.46. The stock has a 50 day simple moving average of GBX 2,829.08 and a 200 day simple moving average of GBX 2,831.54. The company has a current ratio of 5.78, a quick ratio of 0.50 and a debt-to-equity ratio of 3.78. Bellway has a 1-year low of GBX 2,384 ($30.39) and a 1-year high of GBX 3,384 ($43.14).

Insider Buying and Selling at Bellway

In other Bellway news, insider Simon Scougall purchased 515 shares of the stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of GBX 2,528 ($32.23) per share, with a total value of £13,019.20 ($16,597.65). Also, insider Keith Adey sold 27,303 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($41.52), for a total value of £889,258.71 ($1,133,680.15). Insiders own 3.73% of the company’s stock.

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.