Persimmon (LON:PSN) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Persimmon Plc (LON:PSN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,216.67 and traded as low as GBX 1,060. Persimmon shares last traded at GBX 1,093, with a volume of 1,843,459 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PSN shares. Panmure Gordon restated a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a research report on Friday, May 1st. 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 research note on Tuesday, June 16th. Citigroup lowered their price objective on shares of Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Bank of America dropped their price objective on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,591 target price on shares of Persimmon in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Persimmon presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,606.

Persimmon Stock Up 3.8%

The firm has a 50 day simple moving average of GBX 1,066.95 and a two-hundred day simple moving average of GBX 1,216.67. The company has a market capitalization of £3.51 billion, a PE ratio of 12.39, a P/E/G ratio of 0.83 and a beta of 1.39. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46.

Insider Transactions at Persimmon

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 shares were sold at an average price of GBX 1,119, for a total value of £671,400. Corporate insiders own 2.63% of the company’s stock.

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.