Berenberg Bank Issues Positive Forecast for Persimmon (LON:PSN) Stock Price

Persimmon (LON:PSN) had its price objective raised by Berenberg Bank from GBX 1,150 to GBX 1,240 in a research note released on Friday morning,Digital Look reports. Berenberg Bank currently has a hold rating on the stock.

Several other equities analysts also recently commented on PSN. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,590 target price on shares of Persimmon in a research report on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,350 target price on shares of Persimmon in a research note on Friday, August 7th. Finally, Deutsche Bank 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. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,694.78.

Persimmon Stock Performance

Shares of PSN stock opened at GBX 1,284.50 on Friday. Persimmon has a 12-month low of GBX 947.40 and a 12-month high of GBX 1,552. The business has a 50 day simple moving average of GBX 1,227.28 and a 200 day simple moving average of GBX 1,187.43. The company has a debt-to-equity ratio of 8.08, a current ratio of 4.21 and a quick ratio of 1.04. The firm has a market capitalization of £4.13 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.38.

Insider Activity

In other Persimmon news, insider Andrew Duxbury sold 26,105 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of GBX 1,320, for a total transaction of £344,586. Corporate insiders own 2.62% of the company’s stock.

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.