Bellway reached its highest price and keeps a strong appreciation potential.
The major UK residential property developer shows solid fundamentals. Its profitability should improve the next year, with an increase of sales as well as the margins. It has low valuation levels, with a P/E ratio of 8.9x for 2015 and 7.9x for 2016. Also, EPS are expected to rise from 156 pence to 191. Indeed, many investment banks renewed positively their opinion on the stock, as UBS that raised its target price to GBp 1910, while the analysts’ consensus is estimated at GBp 1890.
Technically, the stocks are in a bullish trend on all time scales. Prices are supported by up-oriented moving averages and evolve within upward trend lines. Thus, this positive movement is likely to persevere in both medium and long term toward the GBp 1826 level (weekly data), in order to reach a new highest price.
Investors can benefit from the security promising attributes, taking a long position on the current price and targeting the GBp 1826 level. However, it would be wise to place a stop under the GBp 1647 to prevent potential losses.
At the publication date, the company Surperformance, 4-traders.com website publisher, held a position of 300 securities, acquired at an average price of GBp 1528.
Bellway p.l.c. is a United Kingdom-based home construction company engaged in the building and selling of homes, ranging from one-bedroom apartments up to six-bedroom family homes, as well as providing social housing-to-housing associations. The Company operates into approximately 21 divisions, covering centers across England, Scotland and Wales. The Company's brands include Bellway, Ashberry brand and Bellway London. Bellway brand is engaged in building quality homes in selected locations inspired by the needs of families. Ashberry brand is used on larger sites, where the site layout and market demand justify two selling outlets. The Bellway London brand covers all their developments in London boroughs and commuter towns. Its properties range from one-bedroom apartments to four-bedroom houses. The Company's subsidiaries include Bellway Homes Limited, Bellway Housing Trust Limited, Bellway Properties Limited, Bellway (Services) Limited and Litrose Investments Limited.
BELLWAY P.L.C. 
