Bank of America Has Lowered Expectations for Persimmon (LON:PSN) Stock Price

Persimmon (LON:PSN) had its price target decreased by Bank of America from GBX 1,600 to GBX 1,300 in a research report issued on Monday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 22.76% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,750 target price on shares of Persimmon in a report on Wednesday, March 11th. Jefferies Financial Group dropped their price target on shares of Persimmon from GBX 1,819 to GBX 1,792 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Berenberg Bank reissued a “hold” rating and set a GBX 1,300 price target on shares of Persimmon in a report on Wednesday, March 11th. Finally, Citigroup raised their price objective on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,528.

Persimmon Trading Down 1.5%

LON:PSN opened at GBX 1,059 on Monday. The firm has a market cap of £3.39 billion, a P/E ratio of 13.35, a PEG ratio of 0.83 and a beta of 1.32. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is GBX 1,370.04 and its 200-day simple moving average is GBX 1,292.40. Persimmon has a 12-month low of GBX 1,030.50 and a 12-month high of GBX 1,552.

Persimmon (LON:PSN) last issued its quarterly earnings results on Tuesday, March 10th. The company reported GBX 100.70 earnings per share for the quarter. Persimmon had a return on equity of 8.05% and a net margin of 7.62%. Equities analysts anticipate that Persimmon will post 98.2810615 EPS for the current year.

Persimmon Company Profile

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.