Royal Bank Of Canada Upgrades Persimmon (LON:PSN) to Sector Perform

Persimmon (LON:PSN - Get Free Report) was upgraded by investment analysts at Royal Bank Of Canada to a "sector perform" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a GBX 1,375 ($18.69) price objective on the stock, up from their previous price objective of GBX 1,325 ($18.01). Royal Bank Of Canada's price objective would indicate a potential upside of 12.52% from the stock's previous close.

Separately, Berenberg Bank reissued a "hold" rating on shares of Persimmon in a report on Wednesday, March 12th.

Persimmon Stock Up 1.2%

Shares of PSN stock traded up GBX 14.50 ($0.20) on Wednesday, reaching GBX 1,222 ($16.61). 1,662,852 shares of the stock were exchanged, compared to its average volume of 5,394,690. Persimmon has a twelve month low of GBX 1,047 ($14.23) and a twelve month high of GBX 1,721.80 ($23.41). The company has a market capitalization of £3.93 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.83 and a beta of 1.37. 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 business's 50 day moving average price is GBX 1,327.95 and its 200 day moving average price is GBX 1,241.60.

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.