Persimmon (LON:PSN) Shares Pass Below 200-Day Moving Average – Should You Sell?

Persimmon Plc (LON:PSN)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,274.63 and traded as low as GBX 1,099.50. Persimmon shares last traded at GBX 1,106, with a volume of 1,391,108 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Berenberg Bank reiterated a “hold” rating and set a GBX 1,300 target price on shares of Persimmon in a report on Wednesday, March 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 1,750 target price on shares of Persimmon in a report on Wednesday, March 11th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,591 target price on shares of Persimmon in a report on Thursday, April 30th. Panmure Gordon reiterated a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a report on Friday, May 1st. Finally, Bank of America dropped their target price on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a report on Monday, March 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,524.50.

Persimmon Price Performance

The firm has a 50 day simple moving average of GBX 1,108.57 and a 200-day simple moving average of GBX 1,274.63. The company has a quick ratio of 1.04, a current ratio of 3.99 and a debt-to-equity ratio of 0.46. The company has a market cap of £3.61 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39.

Persimmon (LON:PSN) last posted its earnings results on Tuesday, March 10th. The company reported GBX 100.70 earnings per share (EPS) for the quarter. Persimmon had a return on equity of 8.05% and a net margin of 7.62%. As a group, research analysts predict that Persimmon Plc will post 98.2810615 earnings per share for the current fiscal year.

Persimmon Company Profile

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.