Persimmon (LON:PSN) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Persimmon Plc (LON:PSN)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,276.64 and traded as high as GBX 1,469.45. Persimmon shares last traded at GBX 1,469.45, with a volume of 1,420,541 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSN. Citigroup boosted their price target on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut Persimmon to a “hold” rating and set a GBX 1,419 price target on the stock. in a report on Thursday, January 15th. The Goldman Sachs Group started coverage on shares of Persimmon in a report on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 price target on the stock. JPMorgan Chase & Co. raised 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 report on Thursday, December 4th. Finally, Jefferies Financial Group upped their target price on shares of Persimmon from GBX 1,815 to GBX 1,819 and gave the stock a “buy” rating in a research report on Monday, January 19th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,513.

Persimmon Stock Down 1.5%

The company has a market cap of £4.34 billion, a PE ratio of 17.07, a PEG ratio of 0.83 and a beta of 1.32. The stock’s 50 day moving average price is GBX 1,431.08 and its 200-day moving average price is GBX 1,279.20. The company has a debt-to-equity ratio of 5.39, a quick ratio of 1.04 and a current ratio of 3.86.

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.