Persimmon (LON:PSN) Reaches New 1-Year High – Here’s What Happened

Persimmon Plc (LON:PSN) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 1,521 and last traded at GBX 1,495, with a volume of 101197438 shares traded. The stock had previously closed at GBX 1,433.

Analyst Upgrades and Downgrades

PSN has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on Persimmon from GBX 1,815 to GBX 1,819 and gave the company a “buy” rating in a research report on Monday, January 19th. Citigroup upped their target price on Persimmon from GBX 1,613 to GBX 1,615 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Peel Hunt reissued a “buy” rating and issued a GBX 1,330 price target on shares of Persimmon in a research note on Thursday, November 13th. The Goldman Sachs Group assumed coverage on shares of Persimmon in a report on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,513.

Persimmon Trading Up 4.3%

The stock has a market capitalization of £4.79 billion, a PE ratio of 18.85, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04. The company’s 50 day moving average price is GBX 1,374.52 and its two-hundred day moving average price is GBX 1,239.77.

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.