Persimmon (LON:PSN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Persimmon shares crossed above their 200-day moving average, reaching GBX 1,260.50 before closing at GBX 1,255, up 2.8% in active trading.
• Analyst sentiment remains positive: nine analysts rate the stock a Buy and one a Hold, resulting in a “Moderate Buy” consensus, despite some target-price reductions.
• The company reported quarterly EPS of GBX 38, while analysts forecast full-year EPS of GBX 98.28; insider Andrew Duxbury also sold 26,105 shares for approximately £344,586.

Persimmon Plc (LON:PSN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 1,118.70 and traded as high as GBX 1,260.50. Persimmon shares last traded at GBX 1,255, with a volume of 1,334,014 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Persimmon from GBX 1,419 to GBX 1,403 and set a "buy" rating for the company in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,590 target price on shares of Persimmon in a report on Monday, September 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 1,350 target price on shares of Persimmon in a report on Friday, August 7th. Finally, Citigroup reduced their price target 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Persimmon presently has an average rating of "Moderate Buy" and an average price target of GBX 2,564.30.

Persimmon Trading Up 2.8%

The firm has a market cap of £4.03 billion, a PE ratio of 13.32, a PEG ratio of 0.83 and a beta of 1.40. The business has a 50-day moving average price of GBX 1,178.95 and a two-hundred day moving average price of GBX 1,118.70. The company has a debt-to-equity ratio of 8.08, a current ratio of 4.21 and a quick ratio of 1.04.

Persimmon (LON:PSN - Get Free Report) last released 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%. Analysts forecast that Persimmon Plc will post 98.28 EPS for the current year.

Insider Transactions at Persimmon

In other Persimmon news, insider Andrew Duxbury sold 26,105 shares of the firm's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of GBX 1,320, for a total transaction of £344,586. Insiders own 2.64% of the company's stock.

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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