Persimmon’s (PSN) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Persimmon (LON:PSN) in a report released on Monday, MarketBeat Ratings reports. Jefferies Financial Group currently has a GBX 1,590 price objective on the stock.

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

Persimmon Price Performance

Shares of LON PSN opened at GBX 1,315 on Monday. The firm has a market cap of £4.22 billion, a PE ratio of 13.96, a PEG ratio of 0.83 and a beta of 1.40. The company has a current ratio of 4.21, a quick ratio of 1.04 and a debt-to-equity ratio of 8.08. Persimmon has a 1-year low of GBX 947.40 and a 1-year high of GBX 1,552. The company has a fifty day moving average price of GBX 1,155.99 and a 200 day moving average price of GBX 1,113.35.

Persimmon (LON:PSN) last posted its quarterly earnings results on Thursday, August 6th. The company reported GBX 38 earnings per share for the quarter. Persimmon had a return on equity of 8.45% and a net margin of 7.68%. Research analysts predict that Persimmon will post 98.2810615 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew Duxbury sold 26,105 shares of Persimmon stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of GBX 1,320, for a total transaction of £344,586. 2.62% of the stock is currently owned by corporate insiders.

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.