Persimmon (LON:PSN) Price Target Cut to GBX 1,590 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut Persimmon’s price target slightly to GBX 1,590 from GBX 1,591 while maintaining a “buy” rating, implying 33.5% potential upside from the prior close.
• Analyst sentiment remains positive: nine analysts rate the stock “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating.
• Persimmon shares opened at GBX 1,191, with a market capitalization of approximately £3.82 billion; the company reported quarterly EPS of GBX 38 and a 7.68% net margin.

Persimmon (LON:PSN - Get Free Report) had its target price dropped by equities researchers at Jefferies Financial Group from GBX 1,591 to GBX 1,590 in a research report issued on Wednesday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 33.50% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Panmure Gordon reissued a "buy" rating and set a GBX 1,694 target price on shares of Persimmon in a report on Friday, May 1st. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 1,350 target price on shares of Persimmon in a research report on Friday, August 7th. 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. Finally, JPMorgan Chase & Co. reduced their price objective on Persimmon from GBX 1,800 to GBX 1,430 and set an "overweight" rating for the company in a research note on Tuesday, June 16th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Persimmon has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,564.30.

Persimmon Stock Performance

PSN opened at GBX 1,191 on Wednesday. The firm's fifty day simple moving average is GBX 1,079.15 and its two-hundred day simple moving average is GBX 1,181.20. Persimmon has a 52-week low of GBX 947.40 and a 52-week high of GBX 1,552. The company has a market cap of £3.82 billion, a price-to-earnings ratio of 13.50, 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 released its earnings results on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. Equities analysts anticipate that Persimmon will post 98.2810615 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Persimmon news, insider Dean K. Finch sold 60,000 shares of the business's 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 transaction of £671,400. 2.63% of the stock is currently owned by company 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.

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