Persimmon (LON:PSN) Trading 4.8% Higher - What's Next?

Key Points

• Persimmon Plc's shares rose by 4.8% during mid-day trading, reaching a high of GBX 1,259.50 before closing at GBX 1,235.52.
• Analysts have a consensus rating of "Moderate Buy" for Persimmon, with an average target price of GBX 1,503 based on recent reports from various financial institutions.
• The company reported a net margin of 8.84% and earnings per share of GBX 36.80 in its last quarterly results.

Shares of Persimmon Plc (LON:PSN - Get Free Report) were 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). Approximately 3,521,186 shares traded hands during trading, a decline of 21% from the average daily volume of 4,458,733 shares. The stock had previously closed at GBX 1,179 ($15.75).

Analyst Ratings Changes

A number of equities analysts recently issued reports on PSN shares. Jefferies Financial Group lowered 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 report on Tuesday, October 7th. Citigroup lowered their price target 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 1,375 price target on shares of Persimmon in a report on Wednesday, August 13th. Finally, Berenberg Bank reaffirmed a "hold" rating and issued a GBX 1,300 target price on shares of Persimmon in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Persimmon presently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,503.

Persimmon Stock Performance

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 company's 50-day simple moving average is GBX 1,121.10 and its 200-day simple moving average is GBX 1,209.80. The stock has a market capitalization of £3.96 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.83 and a beta of 1.37.

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

Insider Buying and Selling at Persimmon

In other news, insider Andrew Duxbury sold 7,132 shares of the stock in a transaction dated Monday, September 29th. The stock was 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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