Bellway (LON:BWY) Stock Crosses Above 200-Day Moving Average - Here's Why

Shares of Bellway p.l.c. (LON:BWY - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,836.40 ($36.78) and traded as high as GBX 3,016 ($39.11). Bellway shares last traded at GBX 2,836 ($36.78), with a volume of 504,794 shares changing hands.

Wall Street Analysts Forecast Growth

BWY has been the topic of several analyst reports. Berenberg Bank boosted their price target on shares of Bellway from GBX 2,900 ($37.61) to GBX 3,200 ($41.50) and gave the stock a "hold" rating in a report on Tuesday, October 15th. Citigroup reaffirmed a "buy" rating and issued a GBX 3,368 ($43.68) target price on shares of Bellway in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Bellway in a report on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Bellway currently has an average rating of "Moderate Buy" and an average target price of GBX 3,204.20 ($41.55).

Bellway Trading Down 0.1 %

The company has a debt-to-equity ratio of 3.78, a current ratio of 5.78 and a quick ratio of 0.50. The company has a market cap of £3.36 billion, a PE ratio of 1,577.78, a PEG ratio of 3.40 and a beta of 1.46. The firm's 50 day moving average is GBX 3,104.38 and its 200 day moving average is GBX 2,836.39.

Bellway Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be issued a GBX 38 ($0.49) dividend. The ex-dividend date is Thursday, November 28th. This represents a dividend yield of 1.15%. This is a boost from Bellway's previous dividend of $16.00. Bellway's dividend payout ratio is presently 6,166.67%.

Insider Activity at Bellway

In other Bellway news, insider Keith Adey sold 27,303 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($42.24), for a total value of £889,258.71 ($1,153,233.96). 3.73% of the stock is owned by corporate 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.