Persimmon (LON:PSN) Sets New 12-Month High – Here’s What Happened

by · The Markets Daily

Persimmon Plc (LON:PSN – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 1,632.50 and last traded at GBX 1,238.50, with a volume of 568400 shares traded. The stock had previously closed at GBX 1,240.

Wall Street Analysts Forecast Growth

PSN has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a research report on Tuesday, June 16th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,590 price target on shares of Persimmon in a research report on Monday, September 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 1,350 price target on shares of Persimmon in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Citigroup reduced their price objective on Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 2,564.30.

View Our Latest Stock Report on PSN

Persimmon Stock Up 1.3%

The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.04 and a current ratio of 4.21. The stock’s 50 day moving average price is GBX 1,171.06 and its 200-day moving average price is GBX 1,115.93. The company has a market cap of £3.92 billion, a PE ratio of 12.97, a PEG ratio of 0.83 and a beta of 1.40.

Persimmon (LON:PSN – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. On average, analysts predict that Persimmon Plc will post 98.2810615 earnings per share for the current year.

Insider Activity

In other news, insider Andrew Duxbury sold 26,105 shares of Persimmon stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of GBX 1,320, for a total value of £344,586. Company insiders own 2.64% of the company’s stock.

About Persimmon

(Get Free Report)

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.

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