Persimmon (LON:PSN) Shares Up 4.8% - Should You Buy?

Key Points

• Persimmon Plc's shares rose by 4.8% during mid-day trading, reaching a trading price of GBP 1,235.52, despite a decrease in trading volume by 21% from the average.
• Analysts have set new price targets for Persimmon, with ratings including a "buy" from Jefferies and Citigroup, suggesting potential upside as the average target price is GBP 1,503.
• The company reported a **net margin of 8.84%** and projected earnings per share of approximately 98.28 for the current year, reflecting a stable financial outlook.

Persimmon Plc (LON:PSN - Get Free Report) shot up 4.8% during mid-day trading on Wednesday . The company traded as high as GBX 1,259.50 ($16.83) and last traded at GBX 1,235.52 ($16.51). 3,521,186 shares changed 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).

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSN. Jefferies Financial Group reduced their price objective on shares of 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. Citigroup reduced their price objective on shares of Persimmon from GBX 1,573 to GBX 1,530 and set a "buy" rating for the company in a research note on Thursday, August 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 1,375 target price on shares of Persimmon in a research note on Wednesday, August 13th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a GBX 1,300 target price on shares of Persimmon in a research note on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of GBX 1,503.

Persimmon Stock Up 4.8%

The firm has a market capitalization of £3.96 billion, a PE ratio of 15.58, a PEG ratio of 0.83 and a beta of 1.37. The business's 50 day simple moving average is GBX 1,121.10 and its 200 day simple moving average is GBX 1,209.80. The company has a current ratio of 4.09, a quick ratio of 1.04 and a debt-to-equity ratio of 4.91.

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

Insider Activity at Persimmon

In other Persimmon news, insider Andrew Duxbury sold 7,132 shares of Persimmon stock in a transaction on Monday, September 29th. The shares were sold at an average price of GBX 1,133, for a total value of £80,805.56. 2.63% of the stock is owned by 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.

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