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

Key Points

• Jefferies reaffirmed its “Buy” rating on Persimmon and set a GBX 1,590 price target, implying 27.64% upside from the prior close.
• Analyst sentiment remains positive, with nine Buy ratings and one Hold; Persimmon has a consensus “Moderate Buy” rating and an average price target of GBX 2,564.30.
• Persimmon reported quarterly EPS of GBX 38, while shares opened at GBX 1,245.73 and insiders own 2.64% of the company; insider Andrew Duxbury recently sold shares worth £344,586.

Persimmon (LON:PSN - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Jefferies Financial Group in a report issued on Wednesday, Digital Look reports. They currently have a GBX 1,590 price objective on the stock. Jefferies Financial Group's target price would indicate a potential upside of 27.64% from the stock's previous close.

Several other brokerages have also issued reports on PSN. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 1,350 target price on shares of Persimmon in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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 lowered their price objective on shares of Persimmon from £161.50 to £128 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Persimmon presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,564.30.

Persimmon Stock Performance

LON:PSN opened at GBX 1,245.73 on Wednesday. The business's 50-day moving average price is GBX 1,186.55 and its two-hundred day moving average price is GBX 1,123.67. Persimmon has a twelve month low of GBX 947.40 and a twelve month high of GBX 1,552. The stock has a market cap of £4.00 billion, a P/E ratio of 13.22, a PEG ratio of 0.83 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 4.21 and a debt-to-equity ratio of 8.08.

Persimmon (LON:PSN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported GBX 38 earnings per share (EPS) for the quarter. Persimmon had a return on equity of 8.45% and a net margin of 7.68%. As a group, equities analysts predict that Persimmon will post 98.28 EPS for the current fiscal year.

Insider Activity at Persimmon

In related news, insider Andrew Duxbury sold 26,105 shares of the firm's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of GBX 1,320, for a total transaction of £344,586. Company insiders own 2.64% of the company's stock.

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.

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