Persimmon (LON:PSN) Sets New 52-Week Low – Should You Sell?

Shares of Persimmon Plc (LON:PSN) hit a new 52-week low on Wednesday . The stock traded as low as GBX 1,006 and last traded at GBX 1,007.32, with a volume of 5276332 shares. The stock had previously closed at GBX 1,045.

Analysts Set New Price Targets

PSN has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,591 target price on shares of Persimmon in a research note on Thursday, April 30th. Citigroup decreased their target price on Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 1,750 price target on shares of Persimmon in a report on Wednesday, March 11th. JPMorgan Chase & Co. reduced their price objective on 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. Finally, Panmure Gordon restated a “buy” rating and set a GBX 1,694 price objective on shares of Persimmon in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,606.

Persimmon Stock Down 4.0%

The firm’s 50 day simple moving average is GBX 1,069.55 and its 200 day simple moving average is GBX 1,228.75. The company has a market cap of £3.22 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39. The company has a quick ratio of 1.04, a current ratio of 3.99 and a debt-to-equity ratio of 0.46.

Insiders Place Their Bets

In other Persimmon news, insider Dean K. Finch sold 60,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 1,119, for a total transaction of £671,400. 2.63% of the stock is owned by 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.