Persimmon (LON:PSN) Shares Up 4.8% - What's Next?

Key Points

• Persimmon Plc shares increased by 4.8% during trading, reaching a last traded price of GBX 1,235.52 ($16.51) after a previous close of GBX 1,179 ($15.75).
• Analysts have mixed ratings for Persimmon, with a consensus rating of "Moderate Buy" and an average price target of GBX 1,503, following various updates from firms such as Jefferies and Citigroup.
• Persimmon's last quarterly earnings report showed an EPS of GBX 36.80 and a net margin of 8.84%, indicating a steady financial performance in the housing sector.

Persimmon Plc (LON:PSN - Get Free Report) shot up 4.8% during 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 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

PSN has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Persimmon from GBX 1,801 to GBX 1,790 and set a "buy" rating for the company in a research report on Tuesday, October 7th. Berenberg Bank reiterated a "hold" rating and set a GBX 1,300 price target on shares of Persimmon in a research report on Tuesday, September 9th. Citigroup dropped their price target on Persimmon from GBX 1,573 to GBX 1,530 and set a "buy" rating for the company in a research report on Thursday, August 14th. 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 report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of GBX 1,503.

Persimmon Trading Up 4.8%

The firm has a market cap of £3.96 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04. The business's 50-day moving average price is GBX 1,121.10 and its two-hundred day moving average price is GBX 1,209.80.

Persimmon (LON:PSN - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts expect that Persimmon Plc will post 98.2810615 earnings per share for the current year.

Insider Transactions at Persimmon

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

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.

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