Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Still a Buy?

Persimmon Plc (OTCMKTS:PSMMY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $32.96, but opened at $35.38. Persimmon shares last traded at $35.39, with a volume of 4,569 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSMMY. Royal Bank Of Canada raised Persimmon from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Citigroup reaffirmed a “buy” rating on shares of Persimmon in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Persimmon in a research report on Monday, November 24th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Persimmon Trading Up 7.1%

The stock’s 50-day simple moving average is $38.57 and its 200 day simple moving average is $34.57.

Persimmon Company Profile

Persimmon plc (OTCMKTS:PSMMY) is a leading United Kingdom–based residential property developer primarily engaged in the design, construction and sale of new homes. The company’s product range spans starter homes for first-time buyers, family houses and executive properties, addressing a broad spectrum of customer needs. Persimmon also offers warranty and after-sales services through its in-house customer care teams, ensuring ongoing support for homeowners.

Founded in 1972 and headquartered in York, North Yorkshire, Persimmon has grown from a regional builder into one of the UK’s most prolific housebuilders.