Persimmon (LON:PSN) Sets New 1-Year Low – Here’s What Happened

Shares of Persimmon Plc (LON:PSN) hit a new 52-week low on Wednesday . The stock traded as low as GBX 1,006 and last traded at GBX 1,007.32, with a volume of 5276332 shares trading hands. The stock had previously closed at GBX 1,045.

Analysts Set New Price Targets

PSN has been the topic of a number of recent 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. Berenberg Bank restated a “hold” rating and set a GBX 1,300 price objective on shares of Persimmon in a research report on Wednesday, March 11th. Panmure Gordon reaffirmed a “buy” rating and issued a GBX 1,694 price target on shares of Persimmon in a research note on Friday, May 1st. Bank of America cut their price objective on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 1,591 target price on shares of Persimmon in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Persimmon has a consensus rating of “Moderate Buy” and an average price target of GBX 2,606.

Persimmon Trading Down 4.0%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 3.99. The company’s 50 day moving average is GBX 1,069.55 and its 200 day moving average is GBX 1,228.75. The stock has a market capitalization of £3.22 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.83 and a beta of 1.39.

Insider Activity

In other news, insider Dean K. Finch sold 60,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of GBX 1,119, for a total transaction of £671,400. Insiders own 2.63% 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.