Persimmon (LON:PSN) Shares Up 4.8% - Here's Why

Persimmon Plc (LON:PSN - Get Free Report)'s share price shot up 4.8% during mid-day trading on Wednesday . The stock traded as high as GBX 1,259.50 ($16.83) and last traded at GBX 1,235.52 ($16.51). 3,521,186 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 4,458,733 shares. The stock had previously closed at GBX 1,179 ($15.75).

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSN. Citigroup reduced their target price on shares of Persimmon from GBX 1,573 to GBX 1,530 and set a "buy" rating for the company in a report on Thursday, August 14th. Jefferies Financial Group dropped their price target on Persimmon from GBX 1,801 to GBX 1,790 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Berenberg Bank restated a "hold" rating and issued a GBX 1,300 price target on shares of Persimmon in a research note on Tuesday, September 9th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a GBX 1,375 price target on shares of Persimmon in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Persimmon has a consensus rating of "Moderate Buy" and an average target price of GBX 1,503.

Persimmon Stock Down 0.3%

The company has a current ratio of 4.09, a quick ratio of 1.04 and a debt-to-equity ratio of 4.91. The stock has a market capitalization of £4.00 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.83 and a beta of 1.37. The business has a 50-day moving average price of GBX 1,121.10 and a 200 day moving average price of GBX 1,209.80.

Persimmon (LON:PSN - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported GBX 36.80 EPS for the quarter. Persimmon had a return on equity of 7.51% and a net margin of 8.84%. On average, equities analysts expect that Persimmon Plc will post 98.2810615 EPS for the current fiscal year.

Insider Activity at Persimmon

In other news, insider Andrew Duxbury sold 7,132 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of GBX 1,133, for a total transaction of £80,805.56. Corporate insiders own 2.63% of the company's stock.

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.

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