Persimmon (LON:PSN) Hits New 12-Month Low – What’s Next?

Persimmon Plc (LON:PSN)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 1,006 and last traded at GBX 1,007.32, with a volume of 5276332 shares changing hands. The stock had previously closed at GBX 1,045.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSN. Citigroup dropped their price objective on Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,591 price objective on shares of Persimmon in a research report on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a research report on Tuesday, June 16th. Bank of America cut their price target on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Panmure Gordon reiterated a “buy” rating and set a GBX 1,694 price objective on shares of Persimmon in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,606.

Persimmon Stock Performance

The company has a quick ratio of 1.04, a current ratio of 3.99 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of £3.33 billion, a PE ratio of 11.75, a PEG ratio of 0.83 and a beta of 1.39. The firm has a 50 day moving average price of GBX 1,066.80 and a 200-day moving average price of GBX 1,224.21.

Insider Activity

In related 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 transaction of £671,400. 2.63% of the stock is currently owned by company insiders.

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.