Persimmon (LON:PSN) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Persimmon Plc (LON:PSN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,211.21 and traded as high as GBX 1,404. Persimmon shares last traded at GBX 1,392.53, with a volume of 1,376,256 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on PSN. JPMorgan Chase & Co. upped their price objective on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a research note on Thursday, December 4th. The Goldman Sachs Group initiated coverage on shares of Persimmon in a research note on Monday, November 24th. They set a “buy” rating and a GBX 1,446 price target for the company. Peel Hunt reiterated a “buy” rating and set a GBX 1,330 price objective on shares of Persimmon in a report on Thursday, November 13th. Finally, Jefferies Financial Group cut their price target on shares of Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating for the company in a report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,510.14.

Persimmon Stock Up 0.1%

The firm has a market cap of £4.46 billion, a P/E ratio of 17.56, a PEG ratio of 0.83 and a beta of 1.37. The stock’s 50-day simple moving average is GBX 1,303.38 and its 200 day simple moving average is GBX 1,210.11. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91.

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.