Persimmon (LON:PSN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Persimmon Plc (LON:PSN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,209.08 and traded as high as GBX 1,328. Persimmon shares last traded at GBX 1,322.50, with a volume of 508,771 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSN shares. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 1,300 price objective on shares of Persimmon in a report on Tuesday, September 9th. JPMorgan Chase & Co. upped their target price on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Jefferies Financial Group cut their price target on Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Peel Hunt reiterated a “buy” rating and set a GBX 1,330 price objective on shares of Persimmon in a research report on Thursday, November 13th. Finally, The Goldman Sachs Group assumed coverage on Persimmon in a research report on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 target price on the stock. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Persimmon presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,510.14.

Persimmon Stock Up 1.0%

The firm has a market cap of £4.28 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The stock’s 50 day moving average is GBX 1,268.25 and its 200 day moving average is GBX 1,209.97. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91.

Insider Buying and Selling at Persimmon

In related news, insider Andrew Duxbury sold 7,132 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of GBX 1,133, for a total value of £80,805.56. 2.63% of the stock is currently owned by corporate insiders.

About Persimmon

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.