Persimmon (LON:PSN) Stock Jumps 14.9% – Here’s Why

Persimmon Plc (LON:PSN)’s stock price rose 14.9% during trading on Monday. The company traded as high as GBX 1,357.50 and last traded at GBX 1,327. 8,045,840 shares were traded during trading, a decline of 32% from the average daily volume of 11,791,588 shares. The stock had previously closed at GBX 1,154.50.

Analyst Ratings Changes

Several analysts have weighed in on PSN shares. Citigroup lowered their target price on shares of 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 restated an “outperform” rating and issued a GBX 1,350 price target on shares of Persimmon in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,590 target price on shares of Persimmon in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 2,564.30.

Persimmon Trading Up 14.9%

The business’s 50 day moving average price is GBX 1,140.49 and its two-hundred day moving average price is GBX 1,111.82. The company has a market capitalization of £4.26 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40. The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.04 and a current ratio of 4.21.

Persimmon (LON:PSN) last posted its quarterly earnings data 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%. Equities analysts forecast 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.