Persimmon (OTCMKTS:PSMMY) Hits New 1-Year High – Here’s What Happened

Persimmon Plc (OTCMKTS:PSMMY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.49 and last traded at $40.42, with a volume of 1677 shares. The stock had previously closed at $38.87.

Analysts Set New Price Targets

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

Persimmon Price Performance

The business has a 50-day moving average price of $36.93 and a 200-day moving average price of $33.28.

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.