Jefferies Financial Group Cuts Persimmon (LON:PSN) Price Target to GBX 1,590

Persimmon (LON:PSN) had its target price reduced by Jefferies Financial Group from GBX 1,591 to GBX 1,590 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on PSN. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 1,350 price objective on shares of Persimmon in a research note on Friday, August 7th. Citigroup dropped their target price on Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Panmure Gordon reaffirmed a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a research note on Tuesday, June 16th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Persimmon has an average rating of “Moderate Buy” and an average price target of GBX 2,564.30.

Persimmon Stock Performance

LON:PSN opened at GBX 1,187 on Wednesday. The stock’s fifty day moving average is GBX 1,085.81 and its 200 day moving average is GBX 1,178.05. Persimmon has a fifty-two week low of GBX 947.40 and a fifty-two week high of GBX 1,552. The firm has a market capitalization of £3.81 billion, a PE ratio of 13.46, a PEG ratio of 0.83 and a beta of 1.40. 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) last posted its quarterly earnings data on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. On average, sell-side analysts anticipate that Persimmon will post 98.2810615 earnings per share for the current year.

Insider Activity at Persimmon

In other news, insider Dean K. Finch sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of GBX 1,119, for a total transaction of £671,400. Company 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.