Persimmon (LON:PSN) Reaches New 12-Month High – Should You Buy?

Persimmon Plc (LON:PSN) reached a new 52-week high on Wednesday . The company traded as high as GBX 1,460 and last traded at GBX 1,451, with a volume of 915276 shares trading hands. The stock had previously closed at GBX 1,447.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Persimmon from GBX 1,520 to GBX 1,800 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Peel Hunt reaffirmed a “buy” rating and set a GBX 1,330 target price on shares of Persimmon in a report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft cut shares of Persimmon to a “hold” rating and set a GBX 1,419 target price for the company. in a research note on Thursday, January 15th. The Goldman Sachs Group initiated coverage on Persimmon in a research note on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 price target for the company. Finally, 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. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Persimmon presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,513.

Persimmon Stock Performance

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 firm has a fifty day moving average of GBX 1,363.05 and a 200 day moving average of GBX 1,230.74. The stock has a market cap of £4.72 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 0.83 and a beta of 1.37.

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.