Persimmon (LON:PSN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Persimmon Plc (LON:PSN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

PSN has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 1,350 target price on shares of Persimmon in a research note on Friday, August 7th. Citigroup lowered their target price on shares of Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. dropped their price target on shares of Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating on the stock in a research note on Tuesday, June 16th. Jefferies Financial Group cut their target price on Persimmon from GBX 1,591 to GBX 1,590 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,564.30.

Persimmon Stock Performance

The stock’s 50 day moving average price is GBX 1,114.69 and its two-hundred day moving average price is GBX 1,150.32. The company has a current ratio of 4.21, a quick ratio of 1.04 and a debt-to-equity ratio of 8.08. The firm has a market capitalization of £3.68 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.83 and a beta of 1.40.

Persimmon (LON:PSN) last announced 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, analysts forecast that Persimmon Plc will post 98.2810615 EPS for the current 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.