Persimmon (LON:PSN) Receives Outperform Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “outperform” rating on Persimmon and set a GBX 1,350 price target, implying approximately 18% upside from the stock’s current price.
• Persimmon has broadly positive analyst sentiment, with eight “buy” ratings and two “hold” ratings; recent targets include GBX 1,430 from JPMorgan and GBX 1,591 from Jefferies.
• The shares opened at GBX 1,144, with a £3.67 billion market capitalization, while the company reported quarterly EPS of GBX 38 and a 7.62% net margin.

Persimmon (LON:PSN - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Royal Bank Of Canada in a research report issued on Friday,London Stock Exchange reports. They currently have a GBX 1,350 price target on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 18.01% from the company's current price.

A number of other brokerages also recently issued reports on PSN. JPMorgan Chase & Co. decreased their price target on Persimmon from GBX 1,800 to GBX 1,430 and set an "overweight" rating for the company in a report on Tuesday, June 16th. Jefferies Financial Group restated a "buy" rating and set a GBX 1,591 target price on shares of Persimmon in a research note on Thursday, April 30th. Panmure Gordon reaffirmed a "buy" rating and issued a GBX 1,694 price target on shares of Persimmon in a report on Friday, May 1st. Finally, Citigroup lowered their price target on Persimmon from £161.50 to £128 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 2,566.

Persimmon Price Performance

Persimmon stock opened at GBX 1,144 on Friday. The stock has a market cap of £3.67 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39. The company has a fifty day simple moving average of GBX 1,074.43 and a 200-day simple moving average of GBX 1,186.51. Persimmon has a 12-month low of GBX 947.40 and a 12-month high of GBX 1,552. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46.

Persimmon (LON:PSN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.62% and a return on equity of 8.05%. Equities analysts expect that Persimmon will post 98.2810615 EPS for the current fiscal year.

Insider Activity at Persimmon

In related news, insider Dean K. Finch sold 60,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were 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 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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