Jefferies Financial Group Reiterates "Buy" Rating for Persimmon (LON:PSN)

Key Points

• Jefferies Financial Group reiterated a "Buy" rating on Persimmon and set a GBX 1,591 price target, implying roughly 51% upside from the current share price.
• Analyst consensus is positive—seven Buy and two Hold ratings—giving an average target of GBX 1,505.67 and a MarketBeat rating of "Moderate Buy".
• Shares traded around GBX 1,053.50 (market cap £3.38bn); latest quarter EPS was GBX 100.70, with a net margin of 7.62% and a P/E of 11.94.

Persimmon (LON:PSN - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Jefferies Financial Group in a research note issued on Thursday,Digital Look reports. They presently have a GBX 1,591 price objective on the stock. Jefferies Financial Group's price objective points to a potential upside of 51.02% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 1,750 price objective on shares of Persimmon in a research report on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft cut shares of Persimmon to a "hold" rating and set a GBX 1,419 price objective for the company. in a research report on Thursday, January 15th. Bank of America lowered their price objective on shares of 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. Berenberg Bank restated a "hold" rating and issued a GBX 1,300 price objective on shares of Persimmon in a research report on Wednesday, March 11th. Finally, Citigroup raised their price objective 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. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Persimmon currently has an average rating of "Moderate Buy" and an average target price of GBX 1,505.67.

Persimmon Price Performance

Shares of Persimmon stock traded up GBX 26.50 during mid-day trading on Thursday, reaching GBX 1,053.50. 6,187,501 shares of the stock were exchanged, compared to its average volume of 11,542,703. The company has a market cap of £3.38 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of GBX 1,217.28 and a 200 day simple moving average of GBX 1,290.34. Persimmon has a fifty-two week low of GBX 1,027 and a fifty-two week high of GBX 1,552.

Persimmon (LON:PSN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported GBX 100.70 earnings per share for the quarter. Persimmon had a net margin of 7.62% and a return on equity of 8.05%. On average, sell-side analysts predict that Persimmon will post 98.2810615 EPS for the current fiscal year.

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.

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