Persimmon (LON:PSN) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Persimmon shares rose above their 200-day moving average, reaching GBX 1,170 before last trading at GBX 1,162 on volume of nearly 2 million shares.
• Analysts remain broadly positive, with nine Buy ratings and one Hold rating, resulting in a consensus “Moderate Buy” rating. However, several firms recently lowered their price targets, including JPMorgan, RBC, Deutsche Bank, Jefferies, and Citigroup.
• Persimmon reported quarterly EPS of GBX 38, with an 8.45% return on equity and a 7.68% net margin; analysts expect full-year EPS of approximately GBX 98.28.

Shares of Persimmon Plc (LON:PSN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,121.94 and traded as high as GBX 1,170. Persimmon shares last traded at GBX 1,162, with a volume of 1,972,753 shares trading hands.

Analyst Ratings Changes

PSN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an "overweight" rating for the company in a research report on Tuesday, June 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 1,350 price objective on shares of Persimmon in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Persimmon from GBX 1,419 to GBX 1,403 and set a "buy" rating on the stock in a research report on Friday, August 7th. Jefferies Financial Group reduced their target price on shares of Persimmon from GBX 1,591 to GBX 1,590 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Finally, Citigroup decreased their target price on shares of Persimmon from £161.50 to £128 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,564.30.

Persimmon Stock Performance

The stock has a market cap of £3.73 billion, a P/E ratio of 12.34, a PEG ratio of 0.83 and a beta of 1.40. The company has a debt-to-equity ratio of 8.08, a current ratio of 4.21 and a quick ratio of 1.04. The company has a fifty day moving average of GBX 1,126.42 and a 200 day moving average of GBX 1,121.94.

Persimmon (LON:PSN - Get Free Report) last issued 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%. On average, equities analysts predict that Persimmon Plc will post 98.2810615 earnings per share for the current fiscal year.

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

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