Brokerages Set Persimmon Plc (LON:PSN) Target Price at GBX 2,606

Shares of Persimmon Plc (LON:PSN) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is GBX 2,606.

PSN has been the topic of several analyst reports. Citigroup reduced their price objective on shares of Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Bank of America lowered their target price on Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their target price on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating on the stock in a report on Tuesday, June 16th. Panmure Gordon reiterated a “buy” rating and issued a GBX 1,694 price target on shares of Persimmon in a research report on Friday, May 1st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,591 price target on shares of Persimmon in a research note on Thursday, April 30th.

Insider Buying and Selling

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

Persimmon Trading Up 0.0%

Shares of LON PSN opened at GBX 1,113 on Tuesday. The firm has a 50 day moving average price of GBX 1,068.32 and a two-hundred day moving average price of GBX 1,201.41. The stock has a market cap of £3.57 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39. Persimmon has a 52-week low of GBX 947.40 and a 52-week high of GBX 1,552. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 3.99.

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.