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

Persimmon Plc (LON:PSN) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,536 and last traded at GBX 1,532.50, with a volume of 3047444 shares. The stock had previously closed at GBX 1,504.50.

Analysts Set New Price Targets

PSN has been the subject of several research reports. Peel Hunt restated a “buy” rating and set a GBX 1,330 price target on shares of Persimmon in a research report on Thursday, November 13th. The Goldman Sachs Group started coverage on shares of Persimmon in a research note on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 target price on the stock. Citigroup raised their price target on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut shares of Persimmon to a “hold” rating and set a GBX 1,419 price target on the stock. in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a report on Thursday, December 4th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 1,513.

Persimmon Trading Up 1.9%

The company has a market cap of £4.91 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91. The firm’s 50-day moving average price is GBX 1,388.92 and its 200-day moving average price is GBX 1,249.84.

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.