Persimmon (LON:PSN) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Persimmon shares briefly moved above their 200-day moving average of GBX 1,153.07, reaching GBX 1,175.50 before last trading at GBX 1,150; the stock was down 2.4%.
• Analyst sentiment remains positive: nine analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus despite several recent price-target reductions.
• Persimmon reported quarterly EPS of GBX 38, with a 7.68% net margin and 8.45% return on equity; analysts expect roughly GBX 98.28 in full-year EPS.

Shares of Persimmon Plc (LON:PSN - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,153.07 and traded as high as GBX 1,175.50. Persimmon shares last traded at GBX 1,150, with a volume of 5,701,977 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSN shares. Citigroup decreased their target price on Persimmon from £161.50 to £128 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 1,350 price target on shares of Persimmon in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Finally, Jefferies Financial Group dropped 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 report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 2,564.30.

Persimmon Trading Down 2.4%

The stock has a market cap of £3.69 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40. The firm has a 50-day moving average price of GBX 1,113.77 and a 200-day moving average price of GBX 1,153.07. The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.04 and a current ratio of 4.21.

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