Persimmon's (PSN) "Buy" Rating Reiterated at Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Buy” rating on Persimmon and set a GBX 1,590 price target, implying 20.24% upside from the prior close.
• Analyst sentiment remains positive: nine analysts rate Persimmon a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating.
• Persimmon opened at GBX 1,322.38, with a £4.25 billion market capitalization; its latest quarterly results showed GBX 38 EPS, a 7.68% net margin and an 8.45% return on equity.

Persimmon (LON:PSN - Get Free Report)'s stock had its "buy" rating reissued by Jefferies Financial Group in a research report issued to clients and investors on Monday, London Stock Exchange reports. They currently have a GBX 1,590 price target on the stock. Jefferies Financial Group's price target indicates a potential upside of 20.24% from the stock's previous close.

A number of other brokerages have also recently weighed in on PSN. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 1,350 price objective on shares of Persimmon in a research note on Friday, August 7th. JPMorgan Chase & Co. reduced their target price 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. Deutsche Bank Aktiengesellschaft lowered their target price on Persimmon from GBX 1,419 to GBX 1,403 and set a "buy" rating on the stock in a report on Friday, August 7th. Finally, Citigroup dropped their price target on Persimmon from £161.50 to £128 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Persimmon presently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,564.30.

Persimmon Stock Performance

LON:PSN opened at GBX 1,322.38 on Monday. The company has a current ratio of 4.21, a quick ratio of 1.04 and a debt-to-equity ratio of 8.08. The firm has a 50-day moving average price of GBX 1,140.49 and a two-hundred day moving average price of GBX 1,111.82. Persimmon has a twelve month low of GBX 947.40 and a twelve month high of GBX 1,552. The company has a market capitalization of £4.25 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40.

Persimmon (LON:PSN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported GBX 38 earnings per share (EPS) for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. As a group, research analysts expect that Persimmon will post 98.2810615 earnings per share for the current fiscal year.

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.