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

Persimmon Plc (LON:PSN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,213.74 and traded as high as GBX 1,218. Persimmon shares last traded at GBX 1,208, with a volume of 42,830,496 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSN. Jefferies Financial Group dropped their price objective on Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Citigroup lowered their target price on Persimmon from GBX 1,573 to GBX 1,530 and set a “buy” rating for the company in a report on Thursday, August 14th. Berenberg Bank reissued a “hold” rating and set a GBX 1,300 price target on shares of Persimmon in a research report on Tuesday, September 9th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 1,375 price target on shares of Persimmon in a research note on Wednesday, August 13th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,330 price objective on shares of Persimmon in a research note on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,474.17.

Persimmon Stock Performance

The business has a 50-day moving average of GBX 1,183.21 and a two-hundred day moving average of GBX 1,212.08. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04. The company has a market cap of £4.03 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.83 and a beta of 1.37.

Insider Buying and Selling at Persimmon

In related news, insider Andrew Duxbury sold 7,132 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of GBX 1,133, for a total transaction of £80,805.56. Corporate insiders own 2.63% 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.