Persimmon (LON:PSN) Reaches New 12-Month High - Here's Why

Key Points

• Persimmon shares reached a new 52-week high of GBX 1,632.50, while the stock last traded at GBX 1,238.50.
• Analyst sentiment remains strongly positive: nine analysts rate the stock a Buy and one rates it Hold, resulting in a “Moderate Buy” consensus rating.
• The company reported quarterly EPS of GBX 38, with analysts forecasting full-year EPS of approximately GBX 98.28; insider Andrew Duxbury recently sold shares worth £344,586.

Persimmon Plc (LON:PSN - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday. The company traded as high as GBX 1,632.50 and last traded at GBX 1,238.50, with a volume of 568400 shares. The stock had previously closed at GBX 1,240.

Wall Street Analyst Weigh In

PSN has been the topic of several analyst reports. Citigroup cut their target price on Persimmon from £161.50 to £128 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 1,590 target price on shares of Persimmon in a research report on Monday, September 28th. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 1,350 price objective on shares of Persimmon in a report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an "overweight" rating on the stock in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Persimmon from GBX 1,419 to GBX 1,403 and set a "buy" rating for the company in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Persimmon presently has an average rating of "Moderate Buy" and an average price target of GBX 2,564.30.

Persimmon Price Performance

The company has a current ratio of 4.21, a quick ratio of 1.04 and a debt-to-equity ratio of 8.08. The firm has a market cap of £3.98 billion, a P/E ratio of 13.15, a PEG ratio of 0.83 and a beta of 1.40. The firm has a 50-day simple moving average of GBX 1,166.78 and a 200-day simple moving average of GBX 1,114.59.

Persimmon (LON:PSN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported GBX 38 earnings per share (EPS) for the quarter. Persimmon had a return on equity of 8.45% and a net margin of 7.68%. As a group, analysts forecast that Persimmon Plc will post 98.2810615 EPS for the current year.

Insider Transactions at Persimmon

In other Persimmon news, insider Andrew Duxbury sold 26,105 shares of the business's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of GBX 1,320, for a total value of £344,586. 2.62% of the stock is owned by company insiders.

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. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.