Persimmon (LON:PSN) Reaches New 52-Week Low – Should You Sell?

Persimmon Plc (LON:PSN)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as GBX 1,011.50 and last traded at GBX 1,013.50, with a volume of 67098977 shares changing hands. The stock had previously closed at GBX 1,031.50.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of analyst reports. Bank of America lowered their price objective on Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a report on Monday, March 30th. Panmure Gordon reissued a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a research note on Friday, May 1st. Berenberg Bank reissued a “hold” rating and issued a GBX 1,300 price target on shares of Persimmon in a report on Wednesday, March 11th. JPMorgan Chase & Co. decreased their price target on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating on the stock in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,591 price objective on shares of Persimmon in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 1,487.50.

Persimmon Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 3.99. The company’s fifty day simple moving average is GBX 1,089.17 and its two-hundred day simple moving average is GBX 1,250.18. The stock has a market capitalization of £3.25 billion, a PE ratio of 11.49, a P/E/G ratio of 0.83 and a beta of 1.40.

Insider Activity at Persimmon

In other news, insider Dean K. Finch sold 60,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of GBX 1,119, for a total value of £671,400. 2.63% of the stock is owned by corporate insiders.

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.