Persimmon (LON:PSN) Reaches New 1-Year High – What’s Next?

Persimmon Plc (LON:PSN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 1,536 and last traded at GBX 1,532.50, with a volume of 3047444 shares traded. The stock had previously closed at GBX 1,504.50.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSN shares. Citigroup upped their price objective on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the stock a “buy” rating in a report on Wednesday, January 14th. The Goldman Sachs Group began coverage on shares of Persimmon in a research report on Monday, November 24th. They set a “buy” rating and a GBX 1,446 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Persimmon to a “hold” rating and set a GBX 1,419 target price on the stock. in a report on Thursday, January 15th. Peel Hunt reiterated a “buy” rating and set a GBX 1,330 price target on shares of Persimmon in a research note on Thursday, November 13th. Finally, Jefferies Financial Group increased their price objective on Persimmon from GBX 1,815 to GBX 1,819 and gave the stock a “buy” rating in a research note on Monday, January 19th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 1,513.

Persimmon Price Performance

The business has a 50 day moving average price of GBX 1,388.92 and a two-hundred day moving average price of GBX 1,249.84. The stock has a market cap of £4.91 billion, a PE ratio of 19.33, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 4.91, a quick ratio of 1.04 and a current ratio of 4.09.

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.